Mount Yale Investment Advisors LLC Invests $323,000 in Snowflake Inc. (NYSE:SNOW)

Mount Yale Investment Advisors LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,999 shares of the company’s stock, valued at approximately $323,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accent Capital Management LLC bought a new position in Snowflake in the 4th quarter worth $25,000. LRI Investments LLC bought a new position in Snowflake in the 1st quarter worth $29,000. FinTrust Capital Advisors LLC boosted its holdings in Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares during the period. Riverview Trust Co bought a new position in Snowflake in the 1st quarter worth $31,000. Finally, Hartford Financial Management Inc. bought a new position in Snowflake in the 1st quarter worth $32,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other news, EVP Grzegorz Czajkowski sold 469,120 shares of Snowflake stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the sale, the executive vice president now directly owns 494,942 shares in the company, valued at $60,922,410.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the transaction, the executive now owns 354,954 shares of the company’s stock, valued at $55,571,598.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the transaction, the executive vice president now directly owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 533,460 shares of company stock worth $66,963,450. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SNOW. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Macquarie dropped their price objective on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, May 24th. KeyCorp increased their price objective on shares of Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Scotiabank dropped their price objective on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a report on Thursday, May 23rd. Finally, Loop Capital dropped their price objective on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $197.31.

Snowflake Stock Up 0.4 %

Shares of NYSE SNOW traded up $0.57 during midday trading on Monday, reaching $129.57. 3,917,559 shares of the company’s stock traded hands, compared to its average volume of 6,448,211. The company has a market cap of $43.38 billion, a price-to-earnings ratio of -45.97 and a beta of 0.85. Snowflake Inc. has a one year low of $122.60 and a one year high of $237.72. The stock’s 50 day simple moving average is $136.95 and its 200-day simple moving average is $164.63.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Equities analysts predict that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Snowflake 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.