Bleakley Financial Group LLC Sells 740 Shares of Snowflake Inc. (NYSE:SNOW)

Bleakley Financial Group LLC decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,988 shares of the company’s stock after selling 740 shares during the quarter. Bleakley Financial Group LLC’s holdings in Snowflake were worth $1,129,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Choreo LLC lifted its holdings in Snowflake by 18.6% in the first quarter. Choreo LLC now owns 8,267 shares of the company’s stock valued at $1,336,000 after acquiring an additional 1,294 shares during the period. Trexquant Investment LP lifted its stake in shares of Snowflake by 266.3% in the 4th quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock worth $2,089,000 after purchasing an additional 7,633 shares during the period. Ridgewood Investments LLC purchased a new position in shares of Snowflake in the first quarter worth approximately $244,000. Congress Wealth Management LLC DE bought a new stake in Snowflake during the fourth quarter valued at approximately $232,000. Finally, Riverview Trust Co purchased a new stake in Snowflake during the first quarter valued at approximately $31,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

Snowflake stock traded down $1.05 during trading hours on Wednesday, hitting $135.16. The company had a trading volume of 6,145,867 shares, compared to its average volume of 6,584,896. The firm has a market cap of $45.25 billion, a P/E ratio of -48.45 and a beta of 0.85. The company has a 50-day moving average price of $141.75 and a two-hundred day moving average price of $168.10. Snowflake Inc. has a 1 year low of $122.60 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. As a group, equities research analysts anticipate that Snowflake Inc. will post -2.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNOW. KeyCorp boosted their price objective on shares of Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $220.00 price target on shares of Snowflake in a report on Monday, July 1st. Macquarie decreased their price objective on Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Mizuho lowered their price objective on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Finally, BNP Paribas raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $197.31.

Insider Buying and Selling

In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the transaction, the executive vice president now directly owns 494,942 shares in the company, valued at $60,922,410.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the transaction, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Grzegorz Czajkowski sold 469,120 shares of Snowflake stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the transaction, the executive vice president now directly owns 494,942 shares in the company, valued at $60,922,410.78. The disclosure for this sale can be found here. Insiders sold a total of 533,460 shares of company stock valued at $66,963,450 over the last three months. 7.80% of the stock is owned by company insiders.

Snowflake 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.