Summit Trail Advisors LLC Trims Holdings in Snowflake Inc. (NYSE:SNOW)

Summit Trail Advisors LLC trimmed its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 29,268 shares of the company's stock after selling 6,937 shares during the quarter. Summit Trail Advisors LLC's holdings in Snowflake were worth $5,824,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Provence Wealth Management Group acquired a new stake in shares of Snowflake in the 3rd quarter valued at $30,000. M&R Capital Management Inc. raised its stake in Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company's stock worth $40,000 after acquiring an additional 100 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Snowflake by 34.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company's stock worth $40,000 after acquiring an additional 52 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Snowflake by 54.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company's stock valued at $31,000 after purchasing an additional 72 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Snowflake by 89.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNOW. JMP Securities raised their target price on shares of Snowflake from $212.00 to $235.00 and gave the company a "market outperform" rating in a research report on Thursday, February 29th. Rosenblatt Securities raised Snowflake from a "neutral" rating to a "buy" rating and set a $185.00 target price for the company in a report on Friday, April 5th. Needham & Company LLC cut their price target on Snowflake from $265.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. HSBC reaffirmed a "reduce" rating on shares of Snowflake in a research note on Thursday, February 29th. Finally, Evercore ISI dropped their price objective on shares of Snowflake from $250.00 to $225.00 and set an "outperform" rating for the company in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $202.77.

Insider Activity at Snowflake

In other Snowflake news, CEO Frank Slootman sold 86,078 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the sale, the chief executive officer now directly owns 180,143 shares of the company's stock, valued at approximately $40,555,593.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snowflake news, CAO Emily Ho sold 1,500 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the sale, the chief accounting officer now directly owns 28,393 shares of the company's stock, valued at approximately $4,457,133.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the transaction, the chief executive officer now directly owns 180,143 shares in the company, valued at approximately $40,555,593.59. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,458 shares of company stock valued at $31,585,640. 8.30% of the stock is owned by corporate insiders.

Snowflake Trading Down 2.8 %

Shares of SNOW traded down $4.58 during trading hours on Tuesday, reaching $159.10. The stock had a trading volume of 4,564,173 shares, compared to its average volume of 6,313,926. The firm has a 50-day simple moving average of $161.85 and a 200 day simple moving average of $179.19. Snowflake Inc. has a 12 month low of $138.40 and a 12 month high of $237.72. The company has a market capitalization of $53.17 billion, a price-to-earnings ratio of -62.39 and a beta of 0.90.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts' consensus estimates of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, equities analysts forecast that Snowflake Inc. will post -1.9 EPS 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.