Sapient Capital LLC Trims Holdings in Snowflake Inc. (NYSE:SNOW)

Sapient Capital LLC trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 17.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,327 shares of the company’s stock after selling 481 shares during the period. Sapient Capital LLC’s holdings in Snowflake were worth $267,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. LRI Investments LLC grew its holdings in shares of Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in Snowflake during the 2nd quarter worth approximately $27,000. Riverview Trust Co acquired a new position in Snowflake during the 1st quarter worth approximately $31,000. Future Financial Wealth Managment LLC acquired a new position in Snowflake during the 1st quarter worth approximately $32,000. Finally, Opal Wealth Advisors LLC acquired a new position in Snowflake during the 2nd quarter worth approximately $39,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNOW has been the subject of several recent analyst reports. Loop Capital reduced their price objective on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Barclays reduced their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Scotiabank reduced their price target on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 22nd. Wedbush reduced their price target on shares of Snowflake from $210.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Finally, DA Davidson reiterated a “buy” rating and issued a $175.00 price target on shares of Snowflake in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.74.

Insider Buying and Selling

In other news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Snowflake news, Director Frank Slootman sold 1,606 shares of the business’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 $176,595.76. Following the completion of the transaction, the director now owns 218,246 shares in the company, valued at $23,998,330.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now owns 718,773 shares of the company’s stock, valued at $86,252,760. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,538 shares of company stock valued at $7,049,994. 7.80% of the stock is owned by company insiders.

Snowflake Stock Performance

Snowflake stock opened at $123.15 on Tuesday. The stock’s 50 day simple moving average is $116.56 and its two-hundred day simple moving average is $134.08. The stock has a market cap of $41.23 billion, a price-to-earnings ratio of -43.98 and a beta of 0.83. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s revenue was up 28.9% compared to the same quarter last year. During the same period last year, the business posted ($0.52) EPS. On average, analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current year.

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.