Creekmur Asset Management LLC Sells 3,456 Shares of Snowflake Inc. (NYSE:SNOW)

Creekmur Asset Management LLC trimmed its stake in shares of Snowflake Inc. (NYSE:SNOW) by 86.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 539 shares of the company’s stock after selling 3,456 shares during the quarter. Creekmur Asset Management LLC’s holdings in Snowflake were worth $62,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Comerica Bank lifted its position in shares of Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after acquiring an additional 4,296 shares during the period. Choreo LLC lifted its position in shares of Snowflake by 18.6% during the 1st quarter. Choreo LLC now owns 8,267 shares of the company’s stock worth $1,336,000 after buying an additional 1,294 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Snowflake by 23.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after buying an additional 43,062 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Snowflake by 201.5% during the 1st quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after buying an additional 42,563 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Snowflake during the 1st quarter worth $29,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. 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 report on Thursday, August 22nd. Citigroup dropped their price objective on Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Canaccord Genuity Group dropped their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Robert W. Baird dropped their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Snowflake Stock Down 0.2 %

Shares of NYSE:SNOW opened at $118.19 on Wednesday. The stock has a market cap of $39.62 billion, a price-to-earnings ratio of -38.69 and a beta of 0.83. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The business’s 50 day moving average is $115.04 and its 200 day moving average is $131.10.

Snowflake (NYSE:SNOW) last announced its 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 company had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.52) earnings per share. As a group, equities research analysts expect that Snowflake Inc. will post -2.41 earnings per share for the current year.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the transaction, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock valued at $7,049,994 over the last 90 days. Insiders own 7.80% of the company’s stock.

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.