Brighton Jones LLC Sells 13,678 Shares of Snowflake Inc. (NYSE:SNOW)

Brighton Jones LLC trimmed its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 22.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,207 shares of the company's stock after selling 13,678 shares during the quarter. Brighton Jones LLC's holdings in Snowflake were worth $7,046,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SNOW. Opal Wealth Advisors LLC acquired a new stake in Snowflake during the 1st quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in Snowflake in the 4th quarter worth $29,000. CVA Family Office LLC increased its holdings in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. acquired a new stake in Snowflake in the 4th quarter valued at approximately $31,000. Finally, Spurstone Advisory Services LLC bought a new stake in Snowflake in the 4th quarter valued at approximately $31,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SNOW. JPMorgan Chase & Co. lifted their price objective on shares of Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Macquarie raised their target price on shares of Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Wolfe Research raised shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price target on the stock in a research report on Tuesday, February 18th. Needham & Company LLC restated a "buy" rating and issued a $230.00 price objective on shares of Snowflake in a report on Thursday, June 5th. Finally, Monness Crespi & Hardt lifted their target price on Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $223.50.

Snowflake Price Performance

NYSE:SNOW traded up $1.05 during trading hours on Monday, reaching $209.23. 1,025,187 shares of the company were exchanged, compared to its average volume of 6,236,100. The business has a 50 day moving average of $176.54 and a 200 day moving average of $170.74. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $214.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market capitalization of $69.85 billion, a P/E ratio of -61.69 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the business earned $0.14 earnings per share. Snowflake's revenue was up 25.8% on a year-over-year basis. Research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $211.35, for a total value of $85,174.05. Following the sale, the director now owns 25,569 shares of the company's stock, valued at approximately $5,404,008.15. This trade represents a 1.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 7,908 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $154.67, for a total value of $1,223,130.36. Following the transaction, the executive vice president now directly owns 600,632 shares of the company's stock, valued at $92,899,751.44. This trade represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 903,058 shares of company stock valued at $170,730,711 in the last ninety days. 6.80% of the stock is currently owned by company insiders.

Snowflake 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.