Valeo Financial Advisors LLC Trims Holdings in Snowflake Inc. (NYSE:SNOW)

Valeo Financial Advisors LLC cut its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,606 shares of the company's stock after selling 1,732 shares during the period. Valeo Financial Advisors LLC's holdings in Snowflake were worth $1,696,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SNOW. Opal Wealth Advisors LLC purchased a new stake in Snowflake during the 1st quarter valued at $26,000. CVA Family Office LLC raised its holdings in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after buying an additional 88 shares during the period. West Paces Advisors Inc. purchased a new stake in Snowflake during the 4th quarter valued at $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake during the 4th quarter valued at $31,000. Finally, Capital A Wealth Management LLC bought a new position in Snowflake in the 4th quarter valued at $31,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNOW has been the topic of several research analyst reports. Barclays reaffirmed an "overweight" rating and issued a $219.00 price objective (up previously from $203.00) on shares of Snowflake in a research report on Thursday, May 22nd. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $250.00 price objective (up previously from $225.00) on shares of Snowflake in a research report on Friday, June 13th. BTIG Research reaffirmed a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Piper Sandler reiterated an "overweight" rating and issued a $215.00 target price (up from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Finally, UBS Group upgraded Snowflake from a "neutral" rating to a "buy" rating and upped their target price for the stock from $210.00 to $265.00 in a report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $225.36.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $221.47, for a total value of $89,252.41. Following the sale, the director directly owned 26,539 shares of the company's stock, valued at approximately $5,877,592.33. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 100,483 shares of the firm's 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 in the company, valued at approximately $36,999,089.85. The trade was a 37.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,718,258 shares of company stock valued at $589,762,906 in the last three months. 6.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

Snowflake stock traded down $3.78 during midday trading on Friday, hitting $210.64. 3,867,571 shares of the company were exchanged, compared to its average volume of 6,016,040. The firm has a market capitalization of $70.32 billion, a PE ratio of -50.03 and a beta of 1.22. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $226.60. The business has a fifty day simple moving average of $202.68 and a two-hundred day simple moving average of $176.69. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last posted 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $0.14 earnings per share. Snowflake's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, sell-side analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.