Vantage Investment Partners LLC Sells 2,845 Shares of Snowflake Inc. $SNOW

Vantage Investment Partners LLC reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 7.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,163 shares of the company’s stock after selling 2,845 shares during the quarter. Vantage Investment Partners LLC’s holdings in Snowflake were worth $8,382,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after acquiring an additional 29,320 shares in the last quarter. Intech Investment Management LLC boosted its stake in Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after purchasing an additional 2,167 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after purchasing an additional 73 shares in the last quarter. CX Institutional raised its stake in shares of Snowflake by 31.0% in the second quarter. CX Institutional now owns 372 shares of the company’s stock worth $83,000 after purchasing an additional 88 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Snowflake during the second quarter valued at $2,331,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on SNOW. DA Davidson reiterated a “buy” rating and issued a $300.00 price objective on shares of Snowflake in a report on Monday, December 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $237.00 price target on shares of Snowflake in a report on Thursday, December 4th. Wells Fargo & Company boosted their price objective on shares of Snowflake from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Stifel Nicolaus increased their price objective on shares of Snowflake from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Finally, Monness Crespi & Hardt lifted their target price on shares of Snowflake from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $275.58.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $219.90, for a total value of $2,199,000.00. Following the completion of the sale, the executive vice president directly owned 471,351 shares of the company’s stock, valued at approximately $103,650,084.90. This represents a 2.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $221.16, for a total transaction of $89,127.48. Following the sale, the director owned 24,121 shares in the company, valued at approximately $5,334,600.36. The trade was a 1.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 618,681 shares of company stock valued at $137,427,145. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Up 2.4%

SNOW opened at $211.38 on Friday. The firm’s 50 day simple moving average is $228.45 and its two-hundred day simple moving average is $228.37. The company has a market capitalization of $72.33 billion, a PE ratio of -52.32 and a beta of 1.14. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the business posted $0.20 EPS. Snowflake’s revenue was up 28.7% on a year-over-year basis. As a group, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.