Lyell Wealth Management LP Sells 947 Shares of Snowflake Inc. (NYSE:SNOW)

Lyell Wealth Management LP lowered its position in shares of Snowflake Inc. (NYSE:SNOW) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 57,383 shares of the company’s stock after selling 947 shares during the quarter. Lyell Wealth Management LP’s holdings in Snowflake were worth $6,591,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC increased its holdings in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new position in Snowflake in the 2nd quarter worth about $27,000. V Square Quantitative Management LLC purchased a new position in Snowflake in the 3rd quarter worth about $30,000. Future Financial Wealth Managment LLC bought a new position in Snowflake during the 1st quarter valued at about $32,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Snowflake during the 2nd quarter valued at about $39,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNOW has been the subject of several research reports. Morgan Stanley reissued an “equal weight” rating and set a $175.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. UBS Group lowered their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Citigroup cut 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. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Barclays dropped their target price on Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $174.74.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Benoit Dageville sold 287 shares of Snowflake stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,049,994 in the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $116.00 on Friday. The company has a market cap of $38.84 billion, a P/E ratio of -41.43 and a beta of 0.83. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The firm’s fifty day moving average is $115.59 and its two-hundred day moving average is $132.00.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the previous year, the firm posted ($0.52) earnings per share. The business’s revenue was up 28.9% compared to the same quarter last year. As a group, analysts forecast that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

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.