Allegheny Financial Group LTD Trims Position in Snowflake Inc. (NYSE:SNOW)

Allegheny Financial Group LTD decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 24.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,882 shares of the company’s stock after selling 609 shares during the period. Allegheny Financial Group LTD’s holdings in Snowflake were worth $304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Once Capital Management LLC increased its position in Snowflake by 40.0% during the first quarter. Once Capital Management LLC now owns 35,000 shares of the company’s stock worth $5,656,000 after purchasing an additional 10,000 shares during the last quarter. Forsta AP Fonden increased its position in Snowflake by 7.8% during the first quarter. Forsta AP Fonden now owns 72,100 shares of the company’s stock worth $11,651,000 after purchasing an additional 5,200 shares during the last quarter. Highland Capital Management LLC increased its position in Snowflake by 5.5% during the first quarter. Highland Capital Management LLC now owns 6,988 shares of the company’s stock worth $1,129,000 after purchasing an additional 366 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in Snowflake during the first quarter worth approximately $480,000. Finally, Zevenbergen Capital Investments LLC increased its position in Snowflake by 2.3% during the first quarter. Zevenbergen Capital Investments LLC now owns 679,609 shares of the company’s stock worth $109,825,000 after purchasing an additional 15,092 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 0.1 %

Shares of NYSE SNOW traded down $0.16 during midday trading on Monday, reaching $135.59. The company’s stock had a trading volume of 3,096,766 shares, compared to its average volume of 6,591,509. The company has a 50 day moving average price of $142.81 and a 200 day moving average price of $169.02. Snowflake Inc. has a one year low of $122.60 and a one year high of $237.72. The company has a market cap of $45.40 billion, a price-to-earnings ratio of -48.31 and a beta of 0.85.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $828.71 million during the quarter, compared to the consensus estimate of $786.95 million. Research analysts anticipate that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the sale, the director now owns 4,247 shares in the company, valued at $607,236.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at $607,236.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael L. Speiser acquired 76,200 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average cost of $131.09 per share, for a total transaction of $9,989,058.00. Following the completion of the transaction, the director now directly owns 1,632,225 shares of the company’s stock, valued at approximately $213,968,375.25. The disclosure for this purchase can be found here. Insiders have sold 533,460 shares of company stock worth $66,963,450 over the last 90 days. 7.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SNOW has been the subject of several recent research reports. JMP Securities reissued a “market outperform” rating and issued a $235.00 price objective on shares of Snowflake in a research report on Tuesday, June 4th. Scotiabank dropped their price objective on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 23rd. Loop Capital dropped their price objective on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Mizuho dropped their price objective on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, UBS Group increased their price objective on shares of Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.