Creekmur Asset Management LLC Decreases Holdings in Snowflake Inc. (NYSE:SNOW)

Creekmur Asset Management LLC reduced its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 89.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 294 shares of the company's stock after selling 2,402 shares during the period. Creekmur Asset Management LLC's holdings in Snowflake were worth $43,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SNOW. Forum Financial Management LP lifted its holdings in Snowflake by 5.6% in the first quarter. Forum Financial Management LP now owns 2,176 shares of the company's stock valued at $318,000 after acquiring an additional 115 shares during the period. Kingsview Wealth Management LLC lifted its holdings in Snowflake by 13.4% in the first quarter. Kingsview Wealth Management LLC now owns 2,767 shares of the company's stock valued at $404,000 after acquiring an additional 326 shares during the period. Bailard Inc. bought a new position in shares of Snowflake in the first quarter worth about $402,000. Mayflower Financial Advisors LLC raised its stake in shares of Snowflake by 7.7% in the first quarter. Mayflower Financial Advisors LLC now owns 3,733 shares of the company's stock worth $546,000 after buying an additional 267 shares during the period. Finally, Allen Capital Group LLC raised its stake in shares of Snowflake by 10.0% in the first quarter. Allen Capital Group LLC now owns 20,059 shares of the company's stock worth $2,932,000 after buying an additional 1,826 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

SNOW stock traded up $5.16 during mid-day trading on Friday, reaching $216.74. 3,383,192 shares of the company's stock were exchanged, compared to its average volume of 5,976,901. The company has a market cap of $72.36 billion, a price-to-earnings ratio of -51.48 and a beta of 1.22. The stock's 50 day moving average is $207.75 and its 200 day moving average is $178.89. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $226.60.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 earnings per share. On average, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on SNOW shares. Hsbc Global Res downgraded Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Macquarie lifted their target price on Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Bank of America lifted their target price on Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. UBS Group raised Snowflake from a "neutral" rating to a "buy" rating and lifted their target price for the company from $210.00 to $265.00 in a research note on Wednesday, June 4th. 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 note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $226.73.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $218.89, for a total value of $2,188,900.00. Following the completion of the sale, the executive vice president owned 547,336 shares of the company's stock, valued at approximately $119,806,377.04. This trade represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 100,483 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $223.55, for a total value of $22,462,974.65. Following the completion of the sale, the director directly owned 165,507 shares of the company's stock, valued at approximately $36,999,089.85. This represents a 37.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,718,258 shares of company stock worth $589,762,906 in the last three months. Company insiders own 6.80% of the company's stock.

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.