Choreo LLC Decreases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Choreo LLC lowered its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 26.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,675 shares of the company's stock after selling 2,425 shares during the period. Choreo LLC's holdings in Snowflake were worth $976,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quarry LP raised its position in Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after purchasing an additional 59 shares during the period. Ignite Planners LLC grew its stake in shares of Snowflake by 2.3% in the first quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock valued at $418,000 after buying an additional 64 shares in the last quarter. Gabelli Funds LLC lifted its position in Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after acquiring an additional 65 shares in the last quarter. Archford Capital Strategies LLC lifted its position in 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 in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in Snowflake by 8.9% in 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. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 424,852 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the transaction, the director directly owned 165,507 shares of the company's stock, valued at approximately $36,303,960.45. This trade represents a 71.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Garrett sold 67,000 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $198.98, for a total transaction of $13,331,660.00. Following the completion of the sale, the director directly owned 7,428 shares of the company's stock, valued at $1,478,023.44. The trade was a 90.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,708,258 shares of company stock valued at $588,162,906. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

NYSE SNOW opened at $219.55 on Friday. The company has a 50-day moving average price of $211.09 and a two-hundred day moving average price of $180.82. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $226.60. The stock has a market cap of $73.30 billion, a price-to-earnings ratio of -52.15 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The business's revenue was up 25.8% on a year-over-year basis. Analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Macquarie boosted their target price on shares of Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Raymond James Financial reiterated an "outperform" rating and issued a $212.00 price objective (up previously from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. Hsbc Global Res downgraded Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Robert W. Baird lifted their target price on Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Finally, Daiwa Capital Markets started coverage on Snowflake in a report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price target for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and a consensus target price of $226.73.

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.

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.