IAM Advisory LLC Has $476,000 Stock Holdings in Snowflake Inc. (NYSE:SNOW)

IAM Advisory LLC cut its stake in Snowflake Inc. (NYSE:SNOW) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,523 shares of the company’s stock after selling 188 shares during the quarter. IAM Advisory LLC’s holdings in Snowflake were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Private Trust Co. NA increased its position in Snowflake by 188.6% during the fourth quarter. Private Trust Co. NA now owns 228 shares of the company’s stock worth $45,000 after buying an additional 149 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Snowflake by 15.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,551 shares of the company’s stock worth $1,105,000 after buying an additional 733 shares during the last quarter. Valley National Advisers Inc. increased its position in Snowflake by 18.1% during the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after buying an additional 53 shares during the last quarter. RFG Advisory LLC increased its position in Snowflake by 7.3% during the fourth quarter. RFG Advisory LLC now owns 2,183 shares of the company’s stock worth $434,000 after buying an additional 148 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Snowflake by 209.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after buying an additional 3,152 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of NYSE SNOW traded up $2.81 during midday trading on Friday, reaching $124.41. 3,685,865 shares of the stock were exchanged, compared to its average volume of 6,422,034. The business has a 50-day simple moving average of $130.70 and a two-hundred day simple moving average of $159.55. The company has a market capitalization of $41.65 billion, a price-to-earnings ratio of -44.43 and a beta of 0.85. Snowflake Inc. has a 12 month low of $107.93 and a 12 month 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 for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The firm had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. Equities research analysts expect that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In related news, EVP Grzegorz Czajkowski sold 469,120 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the sale, the executive vice president now directly owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the sale, the executive vice president now owns 494,942 shares in the company, valued at $60,922,410.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 535,678 shares of company stock valued at $66,762,300. 7.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on SNOW. Macquarie lowered their target price on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Oppenheimer reissued an “outperform” rating and set a $220.00 target price on shares of Snowflake in a research report on Thursday, May 23rd. Wedbush restated a “neutral” rating and set a $210.00 price target on shares of Snowflake in a report on Wednesday, June 5th. The Goldman Sachs Group restated a “buy” rating and set a $220.00 price target on shares of Snowflake in a report on Monday, July 1st. Finally, Robert W. Baird decreased their price target on shares of Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.31.

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.