Hilltop Holdings Inc. Sells 6,581 Shares of Snowflake Inc. $SNOW

Hilltop Holdings Inc. reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 76.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,036 shares of the company’s stock after selling 6,581 shares during the quarter. Hilltop Holdings Inc.’s holdings in Snowflake were worth $307,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SNOW. HHM Wealth Advisors LLC increased its position in shares of Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after acquiring an additional 50 shares during the period. United Asset Strategies Inc. grew its stake in shares of Snowflake by 1.4% in the fourth quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock worth $777,000 after purchasing an additional 50 shares during the last quarter. Physician Wealth Advisors Inc. increased its holdings in Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after purchasing an additional 51 shares during the period. ORG Partners LLC raised its position in Snowflake by 3.3% during the 4th quarter. ORG Partners LLC now owns 1,796 shares of the company’s stock valued at $394,000 after purchasing an additional 58 shares during the last quarter. Finally, Beaumont Financial Advisors LLC lifted its holdings in Snowflake by 4.7% in the 4th quarter. Beaumont Financial Advisors LLC now owns 1,312 shares of the company’s stock worth $288,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 1.1%

Shares of Snowflake stock opened at $269.83 on Wednesday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The firm has a market cap of $93.52 billion, a price-to-earnings ratio of -76.66 and a beta of 1.35. The company has a 50-day moving average of $243.29 and a 200 day moving average of $195.70. 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 data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Snowflake’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Snowflake Inc. will post -1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SNOW shares. Morgan Stanley boosted their target price on Snowflake from $245.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. KeyCorp boosted their price objective on shares of Snowflake from $285.00 to $325.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Piper Sandler raised their target price on shares of Snowflake from $295.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Needham & Company LLC boosted their price target on shares of Snowflake from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Finally, Scotiabank increased their price target on shares of Snowflake from $285.00 to $320.00 and gave the stock a “sector outperform” rating in a research note on Monday, June 8th. Thirty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $296.27.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 2,500 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $258.56, for a total value of $646,400.00. Following the sale, the executive vice president directly owned 397,879 shares of the company’s stock, valued at approximately $102,875,594.24. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Teresa Briggs sold 343 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $255.11, for a total value of $87,502.73. Following the transaction, the director owned 5,060 shares of the company’s stock, valued at $1,290,856.60. The trade was a 6.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 2,102,015 shares of company stock worth $504,063,952. 4.80% of the stock is currently owned by corporate 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.