Snowflake Inc. (NYSE:SNOW) Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lowered its stake in shares of Snowflake Inc. (NYSE:SNOWGet Rating) by 66.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 555 shares of the company’s stock after selling 1,100 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Snowflake were worth $77,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SNOW. Level Financial Advisors Inc. grew its stake in shares of Snowflake by 475.0% during the 1st quarter. Level Financial Advisors Inc. now owns 115 shares of the company’s stock worth $26,000 after purchasing an additional 95 shares during the period. Glassman Wealth Services lifted its position in shares of Snowflake by 233.3% during the 4th quarter. Glassman Wealth Services now owns 80 shares of the company’s stock valued at $27,000 after buying an additional 56 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of Snowflake by 333.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. Capital Advisory Group Advisory Services LLC purchased a new position in shares of Snowflake during the 1st quarter valued at approximately $30,000. Finally, Tcwp LLC purchased a new position in Snowflake in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 66.74% of the company’s stock.

Snowflake Trading Down 3.9 %

Shares of NYSE SNOW opened at $171.79 on Friday. Snowflake Inc. has a twelve month low of $110.26 and a twelve month high of $405.00. The stock has a 50 day moving average of $167.56 and a two-hundred day moving average of $167.86.

Snowflake (NYSE:SNOWGet Rating) last issued its quarterly earnings data on Wednesday, August 24th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.16). The firm had revenue of $497.25 million during the quarter, compared to analysts’ expectations of $466.03 million. Snowflake had a negative net margin of 41.25% and a negative return on equity of 12.57%. On average, equities research analysts forecast that Snowflake Inc. will post -2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, CEO Frank Slootman sold 1,651 shares of the business’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total transaction of $299,012.61. Following the sale, the chief executive officer now directly owns 135,781 shares in the company, valued at $24,591,296.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Frank Slootman sold 1,651 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $299,012.61. Following the sale, the chief executive officer now directly owns 135,781 shares in the company, valued at $24,591,296.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 724 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $181.11, for a total value of $131,123.64. Following the completion of the sale, the insider now owns 15,512 shares in the company, valued at $2,809,378.32. The disclosure for this sale can be found here. Insiders have sold 4,823 shares of company stock valued at $859,968 over the last quarter. Company insiders own 8.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research reports. Capital One Financial initiated coverage on Snowflake in a report on Friday, August 19th. They issued an “equal weight” rating and a $182.00 price objective on the stock. Piper Sandler raised their target price on Snowflake from $164.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, August 25th. Rosenblatt Securities cut their target price on Snowflake from $255.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, August 25th. The Goldman Sachs Group raised their target price on Snowflake from $192.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, August 25th. Finally, Canaccord Genuity Group raised their target price on Snowflake from $185.00 to $200.00 in a research note on Thursday, August 25th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.67.

Snowflake Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

See Also

Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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