Sepio Capital LP Trims Stake in Snowflake Inc. $SNOW

Sepio Capital LP lessened its position in Snowflake Inc. (NYSE:SNOW) by 6.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,663 shares of the company’s stock after selling 250 shares during the quarter. Sepio Capital LP’s holdings in Snowflake were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new stake in shares of Snowflake during the 2nd quarter valued at $25,000. Avion Wealth grew its holdings in Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the period. Rossby Financial LCC increased its stake in shares of Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 127 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Snowflake by 149.1% during the second quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its stake in shares of Snowflake by 417.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock worth $34,000 after buying an additional 121 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Trading Up 0.4%

NYSE:SNOW opened at $252.20 on Tuesday. The company has a market cap of $85.45 billion, a PE ratio of -60.77 and a beta of 1.09. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a 50 day simple moving average of $249.42 and a two-hundred day simple moving average of $225.03. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total value of $2,777,300.00. Following the completion of the sale, the executive vice president owned 522,450 shares of the company’s stock, valued at $145,100,038.50. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $257.29, for a total value of $103,687.87. Following the completion of the transaction, the director directly owned 24,927 shares in the company, valued at approximately $6,413,467.83. This represents a 1.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 211,305 shares of company stock valued at $50,590,799 over the last 90 days. Company insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SNOW shares. JPMorgan Chase & Co. boosted their target price on Snowflake from $225.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Mizuho upped their price target on shares of Snowflake from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Raymond James Financial raised their price objective on shares of Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Royal Bank Of Canada upped their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Finally, The Goldman Sachs Group raised their price target on shares of Snowflake from $230.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $270.31.

Snowflake Company 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.