Westwood Holdings Group Inc. Sells 7,063 Shares of Snowflake Inc. (NYSE:SNOW)

Westwood Holdings Group Inc. trimmed its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 45.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,374 shares of the company's stock after selling 7,063 shares during the quarter. Westwood Holdings Group Inc.'s holdings in Snowflake were worth $1,293,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SNOW. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at approximately $29,000. West Paces Advisors Inc. acquired a new stake in Snowflake in the fourth quarter valued at approximately $31,000. Colonial Trust Co SC bought a new stake in shares of Snowflake during the fourth quarter worth $33,000. Quadrant Capital Group LLC grew its stake in shares of Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after buying an additional 91 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its holdings in shares of Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after buying an additional 144 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Down 1.6%

Shares of NYSE SNOW traded down $3.19 during mid-day trading on Friday, reaching $199.99. 11,901,781 shares of the company's stock traded hands, compared to its average volume of 6,472,455. 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 business has a 50-day simple moving average of $158.29 and a 200 day simple moving average of $162.99. The stock has a market cap of $66.02 billion, a P/E ratio of -58.99 and a beta of 1.11. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $205.16.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on SNOW shares. Wells Fargo & Company restated an "overweight" rating and set a $225.00 price target (up from $200.00) on shares of Snowflake in a report on Thursday. JPMorgan Chase & Co. increased their price objective on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday. DA Davidson raised their target price on Snowflake from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday. BTIG Research reiterated a "buy" rating on shares of Snowflake in a research report on Thursday. Finally, Macquarie raised their price objective on Snowflake from $160.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.46.

Insider Activity

In related news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. This trade represents a 50.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the sale, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. This represents a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,963 shares of company stock worth $58,204,058 over the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

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.