Level Four Advisory Services LLC Sells 6,519 Shares of Snowflake Inc. $SNOW

Key Points

• Level Four Advisory Services LLC reduced its shares in Snowflake Inc. by 9.2%, selling 6,519 shares, leaving it with a total of 64,095 shares valued at approximately $9.36 million.
• Insider sales included Director Frank Slootman and CFO Michael Scarpelli selling significant portions of their shares, with a combined total exceeding $175 million in stock sold over the last three months.
• Snowflake stock had a market cap of $64.28 billion and recently reported earnings that exceeded expectations, with a revenue increase of 25.8% year-over-year.

Level Four Advisory Services LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,095 shares of the company's stock after selling 6,519 shares during the period. Level Four Advisory Services LLC's holdings in Snowflake were worth $9,368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new position in Snowflake during the 1st quarter valued at $555,847,000. Price T Rowe Associates Inc. MD grew its position in Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after buying an additional 2,200,406 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Snowflake by 22.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after buying an additional 650,775 shares in the last quarter. Invesco Ltd. increased its stake in Snowflake by 26.5% during the first quarter. Invesco Ltd. now owns 3,088,288 shares of the company's stock valued at $451,384,000 after acquiring an additional 647,176 shares during the period. Finally, Voya Investment Management LLC raised its holdings in Snowflake by 157.0% in the 4th quarter. Voya Investment Management LLC now owns 925,817 shares of the company's stock valued at $142,955,000 after acquiring an additional 565,561 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 424,852 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the sale, the director owned 165,507 shares of the company's stock, valued at $36,303,960.45. This represents a 71.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Scarpelli sold 400,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the sale, the chief financial officer owned 292,610 shares of the company's stock, valued at $60,090,389.60. The trade was a 57.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,014,642 shares of company stock worth $657,325,186. Insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of Snowflake stock opened at $192.5340 on Wednesday. The stock has a market capitalization of $64.28 billion, a price-to-earnings ratio of -45.73 and a beta of 1.22. The firm's 50-day moving average price is $211.94 and its two-hundred day moving average price is $184.73. 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 Inc. has a 1-year low of $107.13 and a 1-year high of $229.27.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.14 EPS. Snowflake's revenue was up 25.8% compared to the same quarter last year. On average, equities analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNOW. DA Davidson reissued a "buy" rating and set a $250.00 price objective on shares of Snowflake in a report on Wednesday, June 4th. CICC Research initiated coverage on shares of Snowflake in a research note on Friday, June 20th. They set an "outperform" rating and a $225.00 price target on the stock. Citigroup reissued an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada increased their price target on shares of Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $226.32.

Snowflake Company Profile

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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