Oliver Lagore Vanvalin Investment Group Sells 654 Shares of Snowflake Inc. (NYSE:SNOW)

Oliver Lagore Vanvalin Investment Group cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 15.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,590 shares of the company’s stock after selling 654 shares during the period. Oliver Lagore Vanvalin Investment Group’s holdings in Snowflake were worth $714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in Snowflake in the fourth quarter valued at approximately $477,435,000. FMR LLC boosted its stake in Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in Snowflake in the third quarter valued at approximately $226,302,000. Renaissance Technologies LLC acquired a new stake in Snowflake in the first quarter valued at approximately $176,499,000. Finally, Vanguard Group Inc. boosted its stake in Snowflake by 4.0% in the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock valued at $2,968,152,000 after acquiring an additional 743,211 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Down 0.3 %

Shares of NYSE SNOW traded down $0.45 during trading on Thursday, hitting $148.35. The company had a trading volume of 2,568,513 shares, compared to its average volume of 6,661,805. The stock has a fifty day simple moving average of $181.05 and a two-hundred day simple moving average of $179.26. Snowflake Inc. has a fifty-two week low of $135.26 and a fifty-two week high of $237.72. The firm has a market capitalization of $49.58 billion, a price-to-earnings ratio of -58.99 and a beta of 0.91.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. On average, analysts anticipate that Snowflake Inc. will post -1.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Raymond James raised their price target on shares of Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Evercore ISI decreased their price target on shares of Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. UBS Group raised their price target on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Oppenheimer decreased their price target on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Finally, StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Insider Activity

In other news, CRO Christopher William Degnan sold 2,346 shares of Snowflake stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total value of $476,894.88. Following the sale, the executive now owns 102,007 shares in the company, valued at $20,735,982.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the transaction, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 2,346 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total transaction of $476,894.88. Following the transaction, the executive now owns 102,007 shares in the company, valued at $20,735,982.96. The disclosure for this sale can be found here. Insiders have sold a total of 180,555 shares of company stock worth $36,868,487 over the last 90 days. 8.30% of the stock is currently owned by company insiders.

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.