Vantage Investment Partners LLC Trims Stock Position in Snowflake Inc. $SNOW

Key Points

• Vantage Investment Partners LLC reduced its stake in Snowflake Inc. by 3.2% in Q2, selling 1,320 shares and now holding 40,008 shares valued at approximately $8.95 million.
• Snowflake recorded a 31.8% year-over-year revenue increase in its latest quarter, reporting $1.14 billion, and exceeded EPS estimates with $0.35 against the expected $0.27.
• Insider sales over the last three months amounted to 1,227,176 shares, valued at about $279.5 million, indicating significant insider trading activity.

Vantage Investment Partners LLC lessened its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 3.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 40,008 shares of the company's stock after selling 1,320 shares during the period. Vantage Investment Partners LLC's holdings in Snowflake were worth $8,953,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNOW. Brighton Jones LLC increased its stake in Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after acquiring an additional 29,320 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Snowflake by 82.6% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 694 shares of the company's stock worth $101,000 after buying an additional 314 shares during the period. Independence Bank of Kentucky boosted its holdings in shares of Snowflake by 2.2% in the first quarter. Independence Bank of Kentucky now owns 7,122 shares of the company's stock valued at $1,041,000 after purchasing an additional 150 shares during the period. TB Alternative Assets Ltd. grew its position in shares of Snowflake by 1,188.7% during the 1st quarter. TB Alternative Assets Ltd. now owns 35,659 shares of the company's stock worth $5,212,000 after buying an additional 32,892 shares in the last quarter. Finally, Wedmont Private Capital grew its holdings in Snowflake by 22.3% during the 1st quarter. Wedmont Private Capital now owns 3,856 shares of the company's stock worth $559,000 after acquiring an additional 703 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president owned 241,854 shares of the company's stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $223.88, for a total transaction of $2,238,800.00. Following the transaction, the executive vice president owned 532,450 shares of the company's stock, valued at approximately $119,204,906. The trade was a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,227,176 shares of company stock valued at $279,503,457 in the last three months. 6.80% of the stock is owned by insiders.

Snowflake Trading Down 2.1%

SNOW opened at $235.42 on Monday. Snowflake Inc. has a one year low of $111.15 and a one year high of $249.99. The company has a market cap of $79.76 billion, a P/E ratio of -56.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The business's 50-day simple moving average is $215.94 and its 200-day simple moving average is $196.17.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on SNOW. Mizuho lifted their target price on Snowflake from $235.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Bank of America upgraded Snowflake from a "neutral" rating to a "buy" rating and raised their target price for the stock from $220.00 to $240.00 in a research note on Wednesday, August 20th. Jefferies Financial Group upped their price objective on shares of Snowflake from $250.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Oppenheimer raised their target price on Snowflake from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Finally, Barclays lifted their price objective on shares of Snowflake from $219.00 to $255.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $255.53.

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.

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.