Prime Capital Investment Advisors LLC Sells 2,086 Shares of Snowflake Inc. (NYSE:SNOW)

Prime Capital Investment Advisors LLC cut its holdings in Snowflake Inc. (NYSE:SNOW) by 12.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,925 shares of the company’s stock after selling 2,086 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Snowflake were worth $1,714,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. LRI Investments LLC grew its holdings in Snowflake by 155.6% during 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 during the period. Wellington Shields Capital Management LLC bought a new position in Snowflake during the second quarter valued at $27,000. V Square Quantitative Management LLC bought a new position in Snowflake during the third quarter valued at $30,000. Fortitude Family Office LLC bought a new position in Snowflake during the third quarter valued at $34,000. Finally, Opal Wealth Advisors LLC bought a new position in Snowflake during the second quarter valued at $39,000. 65.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of 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 filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at $85,354,801.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 over the last quarter. 7.80% of the stock is owned by insiders.

Snowflake Stock Up 4.2 %

SNOW stock opened at $130.68 on Thursday. The business has a fifty day moving average of $115.64 and a two-hundred day moving average of $128.89. The stock has a market cap of $43.80 billion, a price-to-earnings ratio of -42.71 and a beta of 0.83. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last posted 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. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. 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) earnings per share. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several research reports. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and increased their price objective for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Needham & Company LLC reduced their price objective on Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $180.00 target price on shares of Snowflake in a research report on Wednesday, October 2nd. JMP Securities dropped their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Finally, DA Davidson restated a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.09.

About Snowflake

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.