Angeles Investment Advisors LLC Sells 1,067 Shares of Snowflake Inc. (NYSE:SNOW)

Angeles Investment Advisors LLC reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 37.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,752 shares of the company’s stock after selling 1,067 shares during the period. Angeles Investment Advisors LLC’s holdings in Snowflake were worth $201,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd increased its position in shares of Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after purchasing an additional 70 shares during the last quarter. Modus Advisors LLC increased its holdings in Snowflake by 3.9% during the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after buying an additional 94 shares during the last quarter. Catalyst Private Wealth LLC raised its position in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after acquiring an additional 104 shares during the period. Iron Gate Global Advisors LLC boosted its stake in Snowflake by 0.9% in the first quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after acquiring an additional 105 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Snowflake by 30.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after acquiring an additional 108 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SNOW shares. Stifel Nicolaus lowered their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley reiterated an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Evercore ISI lowered their price objective on Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, Loop Capital cut their target price 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. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $172.09.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred 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 transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Christian Kleinerman sold 3,029 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $346,487.31. Following the completion of the transaction, the executive vice president now directly owns 753,464 shares of the company’s stock, valued at approximately $86,188,746.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the firm’s 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 completion of the sale, the director now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 59,538 shares of company stock valued at $7,061,544. 7.80% of the stock is currently owned by insiders.

Snowflake Price Performance

NYSE:SNOW opened at $130.68 on Thursday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The business has a 50 day moving average of $115.64 and a 200 day moving average of $128.89. The company has a market capitalization of $43.80 billion, a price-to-earnings ratio of -42.71 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 31.73% and a negative return on equity of 19.62%. The firm’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.52) EPS. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.41 EPS 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.