Creekmur Asset Management LLC Trims Position in Snowflake Inc. (NYSE:SNOW)

Creekmur Asset Management LLC lowered its position in Snowflake Inc. (NYSE:SNOW) by 23.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,956 shares of the company’s stock after selling 1,501 shares during the quarter. Creekmur Asset Management LLC’s holdings in Snowflake were worth $801,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Motley Fool Asset Management LLC grew its holdings in shares of Snowflake by 7.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 9,718 shares of the company’s stock worth $1,570,000 after purchasing an additional 650 shares during the period. Global Financial Private Client LLC purchased a new position in Snowflake during the first quarter worth about $44,000. Meiji Yasuda Life Insurance Co increased its position in shares of Snowflake by 24.3% during the first quarter. Meiji Yasuda Life Insurance Co now owns 8,287 shares of the company’s stock valued at $1,339,000 after acquiring an additional 1,620 shares during the last quarter. Elkhorn Partners Limited Partnership acquired a new stake in shares of Snowflake during the first quarter valued at about $226,000. Finally, In Depth Partners LLC raised its stake in shares of Snowflake by 2.8% in the 1st quarter. In Depth Partners LLC now owns 22,376 shares of the company’s stock valued at $3,616,000 after acquiring an additional 600 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SNOW. UBS Group boosted their target price on Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research report on Monday, July 8th. Mizuho reduced their price target on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. BNP Paribas upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Thursday, May 2nd. Finally, Barclays upped their target price on shares of Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.31.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the transaction, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Teresa Briggs sold 848 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the sale, the director now owns 4,247 shares in the company, valued at $607,236.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benoit Dageville sold 558 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the sale, the insider now directly owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 520,678 shares of company stock valued at $64,962,300. Insiders own 7.80% of the company’s stock.

Snowflake Stock Up 1.2 %

Shares of SNOW traded up $1.51 during trading hours on Wednesday, reaching $130.39. 5,491,007 shares of the company traded hands, compared to its average volume of 6,442,053. The stock has a market capitalization of $43.65 billion, a PE ratio of -46.57 and a beta of 0.85. The stock has a fifty day simple moving average of $134.91 and a 200 day simple moving average of $163.49. Snowflake Inc. has a fifty-two week low of $122.60 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The firm had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Research analysts predict that Snowflake Inc. will post -2.28 EPS for the current fiscal 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.