Victrix Investment Advisors Sells 285 Shares of Snowflake Inc. (NYSE:SNOW)

by · The Cerbat Gem

Victrix Investment Advisors cut its holdings in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,472 shares of the company’s stock after selling 285 shares during the period. Victrix Investment Advisors’ holdings in Snowflake were worth $507,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after buying an additional 29,320 shares during the last quarter. First Horizon Advisors Inc. increased its position in Snowflake by 21.1% in the 4th quarter. First Horizon Advisors Inc. now owns 621 shares of the company’s stock valued at $96,000 after acquiring an additional 108 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Snowflake by 3.3% in the fourth quarter. IFP Advisors Inc now owns 4,869 shares of the company’s stock worth $752,000 after acquiring an additional 155 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Snowflake by 12.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,339,313 shares of the company’s stock worth $206,803,000 after purchasing an additional 143,560 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Snowflake by 2.4% during the fourth quarter. Amalgamated Bank now owns 21,343 shares of the company’s stock worth $3,296,000 after purchasing an additional 504 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the completion of the sale, the executive vice president now owns 590,632 shares of the company’s stock, valued at approximately $94,501,120. The trade was a 1.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares in the company, valued at approximately $3,408,968.75. This represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 622,903 shares of company stock worth $127,235,701. Insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Snowflake from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, May 22nd. Evercore ISI reaffirmed a “buy” rating on shares of Snowflake in a research note on Wednesday, June 4th. Cantor Fitzgerald raised their price target on Snowflake from $183.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, May 22nd. Citigroup reiterated an “outperform” rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $215.00 target price (up from $175.00) on shares of Snowflake in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $225.22.

View Our Latest Analysis on SNOW

Snowflake Trading Up 0.2%

NYSE SNOW opened at $221.89 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $225.68. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average of $189.12 and a 200-day moving average of $173.05. The company has a market cap of $74.08 billion, a PE ratio of -52.71 and a beta of 1.21.

Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 earnings per share. On average, equities research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Snowflake Company Profile

(Free Report)

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.

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