Eventide Asset Management LLC Sells 5,825 Shares of Snowflake Inc. $SNOW

Eventide Asset Management LLC cut its position in shares of Snowflake Inc. (NYSE:SNOW) by 44.7% in the fourth quarter, HoldingsChannel reports. The firm owned 7,210 shares of the company’s stock after selling 5,825 shares during the period. Eventide Asset Management LLC’s holdings in Snowflake were worth $1,594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Total Clarity Wealth Management Inc. raised its position in Snowflake by 2.7% during the 3rd quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company’s stock valued at $340,000 after purchasing an additional 40 shares in the last quarter. Diligent Investors LLC raised its position in shares of Snowflake by 0.9% in the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock worth $1,036,000 after acquiring an additional 40 shares in the last quarter. Wolff Wiese Magana LLC raised its position in shares of Snowflake by 10.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 549 shares of the company’s stock worth $120,000 after acquiring an additional 50 shares in the last quarter. HHM Wealth Advisors LLC raised its position in shares of Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 50 shares in the last quarter. Finally, United Asset Strategies Inc. raised its position in shares of Snowflake by 1.4% in the 4th quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock worth $777,000 after acquiring an additional 50 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Down 0.2%

Shares of NYSE:SNOW opened at $232.38 on Monday. The business’s 50-day moving average is $173.64 and its 200 day moving average is $189.84. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The firm has a market capitalization of $80.54 billion, a P/E ratio of -66.02 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. On average, research analysts predict that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Needham & Company LLC boosted their price target on Snowflake from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Sanford C. Bernstein boosted their price target on Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a research report on Thursday, May 28th. Canaccord Genuity Group boosted their price target on Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Benchmark boosted their price target on Snowflake from $200.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Rosenblatt Securities boosted their price target on Snowflake from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $291.77.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 162,924 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $263.70, for a total transaction of $42,963,058.80. Following the sale, the director owned 38,046 shares in the company, valued at approximately $10,032,730.20. The trade was a 81.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $245.21, for a total value of $98,819.63. Following the sale, the director owned 22,106 shares in the company, valued at approximately $5,420,612.26. The trade was a 1.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,589,550 shares of company stock worth $359,438,410 in the last 90 days. 4.80% of the stock is owned by company insiders.

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.