Van Hulzen Asset Management LLC Lowers Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Van Hulzen Asset Management LLC cut its holdings in Snowflake Inc. (NYSE:SNOW) by 18.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,730 shares of the company’s stock after selling 605 shares during the period. Van Hulzen Asset Management LLC’s holdings in Snowflake were worth $369,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Commerce Bank increased its stake in Snowflake by 0.8% in the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after purchasing an additional 51 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Snowflake by 0.5% during the 1st quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock valued at $2,179,000 after acquiring an additional 70 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after acquiring an additional 70 shares during the period. IAM Advisory LLC boosted its position in shares of Snowflake by 2.0% in the first quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after acquiring an additional 74 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC boosted its position in shares of Snowflake by 2.6% in the first quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock worth $478,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SNOW. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of Snowflake in a research note on Monday, August 19th. Citigroup dropped their price objective on Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Macquarie reduced their target price on Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Loop Capital dropped their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Canaccord Genuity Group cut their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $176.03.

Insiders Place Their Bets

In related news, insider Benoit Dageville sold 1,295 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $125.19, for a total transaction of $162,121.05. Following the completion of the sale, the insider now owns 58,791 shares of the company’s stock, valued at approximately $7,360,045.29. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Benoit Dageville sold 1,295 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $125.19, for a total value of $162,121.05. Following the sale, the insider now owns 58,791 shares of the company’s stock, valued at approximately $7,360,045.29. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 510,098 shares of company stock valued at $63,102,307. Company insiders own 7.80% of the company’s stock.

Snowflake Stock Up 0.3 %

Shares of NYSE SNOW opened at $110.25 on Wednesday. The stock has a market capitalization of $36.91 billion, a P/E ratio of -39.38 and a beta of 0.84. The stock’s 50 day moving average price is $125.28 and its two-hundred day moving average price is $143.98. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.52) EPS. On average, analysts anticipate that Snowflake Inc. will post -2.42 EPS for the current year.

Snowflake 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.