Vantage Investment Partners LLC Cuts Stock Position in Snowflake Inc. $SNOW

Vantage Investment Partners LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 7.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,163 shares of the company’s stock after selling 2,845 shares during the quarter. Vantage Investment Partners LLC’s holdings in Snowflake were worth $8,382,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new stake in Snowflake during the 2nd quarter valued at approximately $25,000. Avion Wealth grew its holdings in Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after buying an additional 49 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in shares of Snowflake during the third quarter valued at approximately $25,000. Tripletail Wealth Management LLC bought a new stake in shares of Snowflake during the third quarter valued at approximately $28,000. Finally, Rossby Financial LCC lifted its holdings in shares of Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after buying an additional 127 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 2.4%

SNOW opened at $211.38 on Friday. The stock has a 50-day moving average of $228.45 and a 200 day moving average of $228.37. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The firm has a market cap of $72.33 billion, a P/E ratio of -52.32 and a beta of 1.14.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The company’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same period last year, the company earned $0.20 EPS. As a group, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 1,072 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $223.63, for a total transaction of $239,731.36. Following the transaction, the chief accounting officer owned 43,809 shares in the company, valued at $9,797,006.67. The trade was a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $219.90, for a total transaction of $2,199,000.00. Following the completion of the sale, the executive vice president directly owned 471,351 shares in the company, valued at approximately $103,650,084.90. This represents a 2.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 618,681 shares of company stock valued at $137,427,145 over the last 90 days. 6.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SNOW has been the topic of a number of research reports. Argus upgraded shares of Snowflake from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Thursday, January 8th. DA Davidson restated a “buy” rating and set a $300.00 price objective on shares of Snowflake in a research report on Monday, December 1st. TD Cowen reaffirmed a “buy” rating on shares of Snowflake in a report on Thursday, December 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Snowflake in a research note on Wednesday. Finally, Raymond James Financial set a $250.00 price target on Snowflake in a report on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.58.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.