Nemes Rush Group LLC Sells 237 Shares of Snowflake Inc. (NYSE:SNOW)

Nemes Rush Group LLC lowered its position in Snowflake Inc. (NYSE:SNOW) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,093 shares of the company’s stock after selling 237 shares during the period. Nemes Rush Group LLC’s holdings in Snowflake were worth $417,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Cigna Investments Inc. New lifted its stake in Snowflake by 1.6% in the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after purchasing an additional 51 shares during the last quarter. E&G Advisors LP lifted its stake in Snowflake by 3.0% in the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock valued at $352,000 after purchasing an additional 51 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Snowflake by 34.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the period. Valley National Advisers Inc. raised its holdings in Snowflake by 18.1% in the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock valued at $68,000 after acquiring an additional 53 shares during the period. Finally, AdvisorNet Financial Inc raised its holdings in Snowflake by 5.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,106 shares of the company’s stock valued at $220,000 after acquiring an additional 61 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 1.0 %

SNOW traded up $1.64 during midday trading on Wednesday, hitting $164.35. The company had a trading volume of 2,738,260 shares, compared to its average volume of 5,962,011. The stock’s 50 day moving average price is $157.11 and its 200 day moving average price is $180.38. The company has a market capitalization of $54.93 billion, a price-to-earnings ratio of -63.87 and a beta of 0.90. Snowflake Inc. has a 52 week low of $138.40 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. Research analysts predict that Snowflake Inc. will post -1.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Mizuho reissued a “buy” rating and issued a $205.00 price target (down from $255.00) on shares of Snowflake in a report on Thursday, February 29th. UBS Group raised their target price on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. JMP Securities reaffirmed a “market outperform” rating and set a $235.00 target price on shares of Snowflake in a report on Friday, May 17th. Finally, Stifel Nicolaus lowered their target price on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.69.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total transaction of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares in the company, valued at $124,504,006.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares in the company, valued at $124,504,006.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frank Slootman sold 1,311 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.51, for a total transaction of $211,739.61. Following the completion of the transaction, the chief executive officer now owns 271,342 shares in the company, valued at $43,824,446.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is owned by 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.