Sivia Capital Partners LLC Trims Stock Holdings in Snowflake Inc. $SNOW

Key Points

• Sivia Capital Partners LLC reduced its stake in Snowflake Inc. by 38.9%, now owning 6,021 shares, which constitutes 0.4% of their portfolio.
• Institutional investors collectively hold 65.10% of Snowflake's stock, with Brighton Jones LLC significantly increasing its stake by 90.0%.
• Analysts have varying ratings on Snowflake, with a consensus rating of "Moderate Buy" and an average target price of $255.53.

Sivia Capital Partners LLC lowered its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 38.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,021 shares of the company's stock after selling 3,841 shares during the quarter. Snowflake makes up approximately 0.4% of Sivia Capital Partners LLC's portfolio, making the stock its 25th biggest position. Sivia Capital Partners LLC's holdings in Snowflake were worth $1,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Brighton Jones LLC lifted its stake in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after buying an additional 29,320 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Snowflake during the fourth quarter worth approximately $259,000. Snowden Capital Advisors LLC purchased a new stake in shares of Snowflake during the fourth quarter worth approximately $298,000. Toronto Dominion Bank raised its stake in shares of Snowflake by 9.2% during the fourth quarter. Toronto Dominion Bank now owns 40,655 shares of the company's stock worth $6,278,000 after purchasing an additional 3,429 shares during the last quarter. Finally, Vident Advisory LLC raised its stake in shares of Snowflake by 56.7% during the fourth quarter. Vident Advisory LLC now owns 7,130 shares of the company's stock worth $1,101,000 after purchasing an additional 2,580 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SNOW shares. JMP Securities reaffirmed a "market outperform" rating and set a $260.00 price objective on shares of Snowflake in a report on Tuesday, August 26th. Wells Fargo & Company upped their price objective on Snowflake from $250.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Barclays upped their price objective on Snowflake from $219.00 to $255.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Finally, Evercore ISI upped their price objective on Snowflake from $240.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $255.53.

Snowflake Stock Performance

Snowflake stock opened at $216.35 on Wednesday. The stock's 50 day moving average price is $212.69 and its 200 day moving average price is $189.73. The firm has a market capitalization of $73.30 billion, a PE ratio of -52.13 and a beta of 1.22. 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 Inc. has a one year low of $108.71 and a one year high of $249.99.

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

Insider Buying and Selling

In related news, Director Frank Slootman sold 710,083 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the transaction, the director directly owned 165,507 shares of the company's stock, valued at approximately $38,144,398.29. The trade was a 81.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 3,214,120 shares of company stock worth $717,676,398. Insiders own 6.80% of the company's stock.

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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