Sigma Planning Corp Has $345,000 Position in Snowflake Inc. $SNOW

Key Points

• Sigma Planning Corp reduced its Snowflake stake by 66.9% in the first quarter, selling 4,635 shares and ending with 2,289 shares worth about $345,000.
• Snowflake insiders have been selling heavily: Director Mark Garrett sold 100,000 shares for $25 million, and director Michael L. Speiser sold 50,338 shares, with insiders offloading 1.8 million shares worth $421.7 million over the last 90 days.
• Snowflake reported better-than-expected quarterly results, with EPS of $0.39 versus $0.32 expected and revenue of $1.39 billion, up 33.5% year over year. Analysts remain largely bullish, with an average rating of Moderate Buy and an average price target of $296.27.

Sigma Planning Corp cut its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 66.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,289 shares of the company's stock after selling 4,635 shares during the period. Sigma Planning Corp's holdings in Snowflake were worth $345,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SNOW. Kemnay Advisory Services Inc. purchased a new stake in Snowflake in the 4th quarter worth approximately $28,000. Greenline Wealth Management LLC purchased a new position in shares of Snowflake during the 4th quarter valued at $29,000. Physician Wealth Advisors Inc. grew its holdings in shares of Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock valued at $31,000 after acquiring an additional 51 shares in the last quarter. Emerald Advisers LLC increased its stake in shares of Snowflake by 95.2% in the first quarter. Emerald Advisers LLC now owns 205 shares of the company's stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new position in shares of Snowflake in the fourth quarter worth $32,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Activity at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the transaction, the director owned 8,801 shares in the company, valued at $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $141.60, for a total value of $7,127,860.80. Following the transaction, the director owned 28,556 shares in the company, valued at approximately $4,043,529.60. This trade represents a 63.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,802,015 shares of company stock valued at $421,739,629. Corporate insiders own 4.80% of the company's stock.

Snowflake Trading Down 1.2%

Snowflake stock opened at $270.92 on Wednesday. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. The company's fifty day moving average price is $232.28 and its two-hundred day moving average price is $194.18. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $93.90 billion, a price-to-earnings ratio of -76.97 and a beta of 1.35.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business's quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, analysts forecast that Snowflake Inc. will post -1.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several recent research reports. Weiss Ratings lowered Snowflake from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, June 11th. Wedbush upped their target price on Snowflake from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, May 28th. Jefferies Financial Group raised their price target on Snowflake from $300.00 to $310.00 and gave the stock a "buy" rating in a research note on Monday. DA Davidson lifted their price target on Snowflake from $250.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Finally, Morgan Stanley boosted their price target on Snowflake from $245.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Thirty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Snowflake currently has an average rating of "Moderate Buy" and an average price target of $296.27.

About Snowflake

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.