Bay Colony Advisory Group Inc d b a Bay Colony Advisors Has $238,000 Position in Snowflake Inc. (NYSE:SNOW)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lowered its position in Snowflake Inc. (NYSE:SNOW) by 9.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,762 shares of the company’s stock after selling 188 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Snowflake were worth $238,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Accent Capital Management LLC bought a new stake in shares of Snowflake in the fourth quarter valued at approximately $25,000. LRI Investments LLC bought a new position in Snowflake in the first quarter worth $29,000. Riverview Trust Co bought a new position in Snowflake in the first quarter worth $31,000. Hartford Financial Management Inc. bought a new position in Snowflake in the first quarter worth $32,000. Finally, Future Financial Wealth Managment LLC bought a new position in Snowflake in the first quarter worth $32,000. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of several research reports. Wedbush reduced their target price on Snowflake from $210.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $220.00 target price on shares of Snowflake in a research report on Monday, July 1st. TD Cowen reduced their target price on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 19th. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Finally, Jefferies Financial Group dropped their price objective on Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $176.03.

Snowflake Stock Up 0.5 %

Shares of SNOW stock opened at $115.84 on Friday. Snowflake Inc. has a 12-month low of $107.93 and a 12-month high of $237.72. The firm has a fifty day moving average of $129.74 and a 200-day moving average of $154.61. The firm has a market capitalization of $38.78 billion, a price-to-earnings ratio of -41.37 and a beta of 0.85.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company’s revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.52) earnings per share. Research analysts expect that Snowflake Inc. will post -2.31 earnings per share for the current year.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the sale, the chief accounting officer now directly owns 30,613 shares in the company, valued at approximately $3,991,629.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Benoit Dageville sold 558 shares of the stock in a transaction dated Tuesday, June 11th. The stock was 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 directly owns 63,222 shares in the company, valued at $8,112,014.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the sale, the chief accounting officer now directly owns 30,613 shares in the company, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. In the last three months, insiders sold 527,678 shares of company stock worth $65,491,235. 7.80% of the stock is owned by company insiders.

About Snowflake

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.