Xponance Inc. Sells 1,731 Shares of Snowflake Inc. (NYSE:SNOW)

Xponance Inc. cut its stake in Snowflake Inc. (NYSE:SNOW) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,644 shares of the company’s stock after selling 1,731 shares during the period. Xponance Inc.’s holdings in Snowflake were worth $8,486,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Snowflake by 333.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. lifted its stake in Snowflake by 822.2% in the first quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock worth $38,000 after acquiring an additional 148 shares during the period. Ulland Investment Advisors LLC lifted its stake in Snowflake by 270.0% in the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after acquiring an additional 135 shares during the period. Provence Wealth Management Group purchased a new stake in Snowflake in the third quarter worth about $30,000. Finally, M&R Capital Management Inc. lifted its stake in Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after acquiring an additional 100 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Price Performance

Shares of NYSE SNOW opened at $145.45 on Friday. The firm’s 50 day simple moving average is $177.80 and its 200-day simple moving average is $179.00. Snowflake Inc. has a 12 month low of $135.26 and a 12 month high of $237.72. The stock has a market capitalization of $48.61 billion, a price-to-earnings ratio of -57.04 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The firm had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Analysts anticipate that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNOW. JMP Securities upped their price objective on shares of Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 29th. KeyCorp began coverage on shares of Snowflake in a research note on Thursday, April 11th. They issued an “overweight” rating and a $185.00 price objective for the company. Barclays decreased their price target on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. Mizuho reissued a “buy” rating and set a $205.00 price target (down from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Finally, Redburn Atlantic reissued a “sell” rating and set a $125.00 price target (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $202.00.

Insider Activity at Snowflake

In related news, CEO Sridhar Ramaswamy purchased 31,542 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sridhar Ramaswamy acquired 31,542 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the acquisition, the chief executive officer now owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the transaction, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,555 shares of company stock valued at $36,868,487. 8.30% of the stock is owned by company insiders.

Snowflake 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.