Snowflake Inc. $SNOW Shares Sold by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 20.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,774 shares of the company’s stock after selling 1,696 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Snowflake were worth $2,300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNOW. Physician Wealth Advisors Inc. grew its position in Snowflake by 37.8% during the third quarter. Physician Wealth Advisors Inc. now owns 124 shares of the company’s stock valued at $42,000 after purchasing an additional 34 shares in the last quarter. Nvwm LLC lifted its position in Snowflake by 0.6% in the 3rd quarter. Nvwm LLC now owns 6,215 shares of the company’s stock worth $2,110,000 after buying an additional 37 shares in the last quarter. Myecfo LLC lifted its position in Snowflake by 4.1% in the 3rd quarter. Myecfo LLC now owns 968 shares of the company’s stock worth $329,000 after buying an additional 38 shares in the last quarter. Fermata Advisors LLC boosted its stake in shares of Snowflake by 4.9% during the 3rd quarter. Fermata Advisors LLC now owns 893 shares of the company’s stock valued at $303,000 after buying an additional 42 shares during the period. Finally, Abel Hall LLC boosted its stake in shares of Snowflake by 3.8% during the 3rd quarter. Abel Hall LLC now owns 1,189 shares of the company’s stock valued at $404,000 after buying an additional 44 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $304.86 on Friday. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $384.56. The company has a market cap of $107.55 billion, a P/E ratio of -95.87 and a beta of 1.35. The business’s 50 day moving average is $331.88 and its two-hundred day moving average is $239.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.17. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. Snowflake’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company posted $0.35 earnings per share. On average, equities analysts expect that Snowflake Inc. will post -1.42 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $450.00 price objective on shares of Snowflake in a report on Monday, October 12th. Benchmark boosted their target price on Snowflake from $290.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Snowflake in a research note on Tuesday, September 8th. Evercore reaffirmed an “outperform” rating and issued a $430.00 target price on shares of Snowflake in a research report on Thursday, September 3rd. Finally, Mizuho set a $425.00 price target on Snowflake in a research note on Thursday, September 3rd. Thirty-six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $413.87.

Insider Buying and Selling

In related news, CAO Emily Ho sold 768 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $332.93, for a total value of $255,690.24. Following the completion of the sale, the chief accounting officer owned 39,958 shares in the company, valued at approximately $13,303,216.94. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $344.00, for a total value of $138,632.00. Following the sale, the director directly owned 21,767 shares in the company, valued at approximately $7,487,848. This trade represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,216,443 shares of company stock worth $399,836,828. 4.80% of the stock is currently owned by corporate insiders.

About Snowflake

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.