Lyell Wealth Management LP Sells 947 Shares of Snowflake Inc. (NYSE:SNOW)

Lyell Wealth Management LP lessened its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,383 shares of the company’s stock after selling 947 shares during the quarter. Lyell Wealth Management LP’s holdings in Snowflake were worth $6,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Swedbank AB purchased a new position in Snowflake during the first quarter worth about $258,957,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Snowflake during the 1st quarter valued at about $171,608,000. AQR Capital Management LLC grew its holdings in shares of Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after purchasing an additional 660,168 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after purchasing an additional 628,511 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Snowflake by 90.3% in the second quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after purchasing an additional 600,469 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,538 shares of company stock valued at $7,049,994. 7.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

SNOW stock opened at $116.00 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The firm has a 50-day moving average of $115.59 and a 200 day moving average of $132.00. The company has a market cap of $38.84 billion, a P/E ratio of -41.43 and a beta of 0.83.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research note on Wednesday, October 2nd. UBS Group cut their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Loop Capital lowered their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and lifted their price target for the stock from $119.00 to $121.00 in a research note on Friday, August 23rd. Finally, Wedbush upgraded Snowflake to a “hold” rating in a research report on Thursday, October 17th. Two 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, the company has an average rating of “Moderate Buy” and an average target price of $174.74.

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.