Means Investment CO. Inc. Sells 299 Shares of Snowflake Inc. (NYSE:SNOW)

Means Investment CO. Inc. trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,830 shares of the company’s stock after selling 299 shares during the quarter. Means Investment CO. Inc.’s holdings in Snowflake were worth $1,474,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SNOW. LRI Investments LLC raised its holdings in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in Snowflake during the second quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new position in Snowflake during the third quarter valued at approximately $30,000. Riverview Trust Co bought a new position in Snowflake during the first quarter valued at approximately $31,000. Finally, Future Financial Wealth Managment LLC bought a new position in Snowflake during the first quarter valued at approximately $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNOW has been the subject of a number of research reports. Stifel Nicolaus reduced their target price on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a report on Wednesday, October 2nd. Needham & Company LLC reduced their price objective on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Bank of America cut their target price on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Loop Capital dropped their price objective on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.74.

Snowflake Stock Up 0.4 %

SNOW stock opened at $119.54 on Friday. The company’s 50-day simple moving average is $116.65 and its 200-day simple moving average is $133.15. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The firm has a market cap of $40.02 billion, a P/E ratio of -42.69 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter in the prior year, the firm earned ($0.52) EPS. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, analysts anticipate that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 30,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the transaction, the executive vice president now owns 721,755 shares in the company, valued at $86,610,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the sale, the executive vice president now owns 721,755 shares in the company, valued at approximately $86,610,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benoit Dageville sold 287 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,049,994 in the last 90 days. Insiders own 7.80% of the company’s stock.

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.