Del Sette Capital Management LLC Sells 12,983 Shares of Snowflake Inc. $SNOW

Key Points

• Del Sette Capital Management cut its Snowflake stake by 88.7% in Q4, selling 12,983 shares and retaining 1,660 shares valued at about $364,000.
• Insiders sold heavily last quarter — a total of 394,313 shares worth $67.48 million (including sales by EVP Christian Kleinerman and CAO Emily Ho) — while insiders still own 6.8% of the company.
• Snowflake beat the quarter (EPS $0.32 vs. $0.27 est., revenue $1.28B vs. $1.25B) with revenue up 30.1% YoY but a negative net margin and ROE; analysts have a consensus Moderate Buy rating and an average price target of $242.19.

Del Sette Capital Management LLC lessened its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 88.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,660 shares of the company's stock after selling 12,983 shares during the period. Del Sette Capital Management LLC's holdings in Snowflake were worth $364,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Total Clarity Wealth Management Inc. lifted its stake in Snowflake by 2.7% during the third quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company's stock worth $340,000 after purchasing an additional 40 shares during the period. Diligent Investors LLC lifted its stake in Snowflake by 0.9% during the third quarter. Diligent Investors LLC now owns 4,594 shares of the company's stock worth $1,036,000 after purchasing an additional 40 shares during the period. Coastline Trust Co lifted its stake in Snowflake by 1.0% during the third quarter. Coastline Trust Co now owns 4,183 shares of the company's stock worth $943,000 after purchasing an additional 42 shares during the period. CX Institutional lifted its stake in Snowflake by 13.2% during the third quarter. CX Institutional now owns 421 shares of the company's stock worth $95,000 after purchasing an additional 49 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its stake in Snowflake by 44.1% during the third quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company's stock worth $36,000 after purchasing an additional 49 shares during the period. Institutional investors own 65.10% of the company's stock.

Snowflake Stock Performance

NYSE SNOW opened at $141.28 on Friday. The firm has a market cap of $48.84 billion, a price-to-earnings ratio of -35.77 and a beta of 1.08. The company has a 50 day moving average of $158.11 and a 200-day moving average of $203.04. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $280.67.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The company's revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share. On average, equities analysts forecast that Snowflake Inc. will post -2.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SNOW shares. Evercore set a $200.00 price target on shares of Snowflake in a research note on Tuesday, April 14th. Truist Financial set a $125.00 price target on shares of Snowflake in a research note on Wednesday, April 15th. Guggenheim restated a "neutral" rating on shares of Snowflake in a research note on Wednesday, February 18th. Piper Sandler cut their price target on shares of Snowflake from $285.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Finally, Scotiabank cut their price target on shares of Snowflake from $290.00 to $205.00 and set a "sector outperform" rating for the company in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $242.19.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 2,621 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $170.01, for a total transaction of $445,596.21. Following the completion of the sale, the executive vice president owned 533,494 shares of the company's stock, valued at approximately $90,699,314.94. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Emily Ho sold 2,141 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $173.97, for a total transaction of $372,469.77. Following the sale, the chief accounting officer directly owned 44,553 shares of the company's stock, valued at approximately $7,750,885.41. The trade was a 4.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 394,313 shares of company stock valued at $67,477,780. Insiders own 6.80% of the company's stock.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.