Atria Wealth Solutions Inc. Sells 2,363 Shares of Snowflake Inc. $SNOW

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Snowflake Inc. by 17.6%, selling 2,363 shares and maintaining a total of 11,064 shares valued at approximately $2.46 million.
• Recent insider transactions reveal significant selling, with EVP Christian Kleinerman selling 10,000 shares worth $2.34 million, and SVP Vivek Raghunathan selling 11,801 shares totaling $2.63 million.
• Several analysts have issued price targets for Snowflake, with projections ranging from $250 to $275, reflecting a strong overall consensus rating of "Moderate Buy."

Atria Wealth Solutions Inc. reduced its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 17.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,064 shares of the company's stock after selling 2,363 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Snowflake were worth $2,457,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Advantage Inc. lifted its holdings in shares of Snowflake by 1.1% during the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company's stock worth $987,000 after acquiring an additional 48 shares during the period. Ignite Planners LLC lifted its holdings in shares of Snowflake by 2.3% during the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock worth $418,000 after acquiring an additional 64 shares during the period. Archford Capital Strategies LLC lifted its holdings in shares of Snowflake by 1.9% during the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock worth $527,000 after acquiring an additional 68 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Snowflake by 8.9% during the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock worth $122,000 after acquiring an additional 68 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after acquiring an additional 73 shares during the period. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the transaction, the executive vice president owned 527,336 shares of the company's stock, valued at approximately $123,132,956. This trade represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president directly owned 241,854 shares of the company's stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,182,434 shares of company stock worth $270,280,661 over the last ninety days. Insiders own 6.80% of the company's stock.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a "buy" rating and set a $250.00 price target on shares of Snowflake in a report on Monday, August 25th. Morgan Stanley upped their price target on shares of Snowflake from $262.00 to $272.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Wells Fargo & Company began coverage on shares of Snowflake in a research note on Tuesday, September 30th. They issued an "overweight" rating and a $275.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Snowflake from $225.00 to $255.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Finally, Sanford C. Bernstein increased their price objective on shares of Snowflake from $191.00 to $221.00 and gave the company a "market perform" rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $256.18.

Snowflake Price Performance

SNOW stock opened at $240.88 on Thursday. The company has a fifty day moving average price of $220.73 and a 200-day moving average price of $200.36. The company has a market capitalization of $81.61 billion, a P/E ratio of -58.04 and a beta of 1.21. Snowflake Inc. has a 52-week low of $113.23 and a 52-week high of $255.39. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company's revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. As a group, equities analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

About Snowflake

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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