Angeles Investment Advisors LLC Sells 694 Shares of Snowflake Inc. (NYSE:SNOW)

Angeles Investment Advisors LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 19.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,819 shares of the company’s stock after selling 694 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Snowflake were worth $381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SNOW. Abound Wealth Management raised its position in Snowflake by 2,136.4% in the second quarter. Abound Wealth Management now owns 738 shares of the company’s stock worth $100,000 after acquiring an additional 705 shares during the period. Redwood Wealth Management Group LLC purchased a new stake in shares of Snowflake during the 2nd quarter worth approximately $47,000. Plato Investment Management Ltd raised its holdings in shares of Snowflake by 107.6% in the 2nd quarter. Plato Investment Management Ltd now owns 467 shares of the company’s stock worth $63,000 after purchasing an additional 242 shares during the period. Retirement Planning Co of New England Inc. lifted its stake in Snowflake by 5.7% in the second quarter. Retirement Planning Co of New England Inc. now owns 2,815 shares of the company’s stock valued at $380,000 after purchasing an additional 153 shares during the last quarter. Finally, Mystic Asset Management Inc. bought a new position in Snowflake during the second quarter valued at $209,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $113.67 on Monday. The stock has a market capitalization of $38.10 billion, a P/E ratio of -40.60 and a beta of 0.83. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The firm’s 50 day simple moving average is $123.48 and its two-hundred day simple moving average is $141.48.

Snowflake (NYSE:SNOW) last released 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 company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.52) EPS. As a group, equities analysts expect that Snowflake Inc. will post -2.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on SNOW shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of Snowflake in a research report on Monday, August 19th. Wells Fargo & Company dropped their price objective on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. TD Cowen reduced their target price on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Citigroup dropped their price target on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, Robert W. Baird reduced their price objective on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

Insider Activity

In other news, CAO Emily Ho sold 3,845 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Snowflake news, Director Teresa Briggs sold 848 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the sale, the director now owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 3,845 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the completion of the transaction, the chief accounting officer now owns 30,613 shares in the company, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 512,262 shares of company stock valued at $63,340,261. 7.80% of the stock is currently owned by insiders.

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.