Lewis Asset Management LLC Sells 600 Shares of Snowflake Inc. (NYSE:SNOW)

Lewis Asset Management LLC reduced its stake in Snowflake Inc. (NYSE:SNOW) by 15.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,325 shares of the company’s stock after selling 600 shares during the quarter. Lewis Asset Management LLC’s holdings in Snowflake were worth $382,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. LRI Investments LLC grew its holdings in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in Snowflake during the second quarter worth $27,000. V Square Quantitative Management LLC acquired a new position in Snowflake during the 3rd quarter valued at $30,000. Fortitude Family Office LLC bought a new stake in Snowflake in the 3rd quarter valued at $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Snowflake in the 2nd quarter worth $39,000. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the company’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 of the company’s stock, valued at $23,998,330.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank Slootman sold 1,606 shares of the firm’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 completion of the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,061,544 in the last 90 days. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on SNOW. 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. DA Davidson reaffirmed a “buy” rating and issued a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. Argus initiated coverage on shares of Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating on the stock. Wells Fargo & Company lowered their target price on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Finally, Citigroup decreased their price objective on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.17.

Snowflake Stock Performance

Shares of Snowflake stock opened at $123.49 on Friday. 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 $114.83 and a two-hundred day moving average of $129.88.

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