Ameritas Advisory Services LLC Lowers Holdings in Snowflake Inc. (NYSE:SNOW)

Ameritas Advisory Services LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 15.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,188 shares of the company’s stock after selling 386 shares during the period. Ameritas Advisory Services LLC’s holdings in Snowflake were worth $330,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Snowflake by 333.3% during 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. increased its holdings in Snowflake by 822.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock worth $38,000 after purchasing an additional 148 shares during the period. BerganKDV Wealth Management LLC raised its position in Snowflake by 153.7% in the 1st quarter. BerganKDV Wealth Management LLC now owns 170 shares of the company’s stock valued at $26,000 after purchasing an additional 103 shares in the last quarter. Accurate Wealth Management LLC purchased a new position in shares of Snowflake in the 4th quarter valued at about $27,000. Finally, M&R Capital Management Inc. grew its position in shares of Snowflake by 100.0% during the first quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $31,000 after buying an additional 100 shares in the last quarter. 63.55% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, Director John Dennis Mcmahon sold 10,000 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $144.07, for a total value of $1,440,700.00. Following the completion of the transaction, the director now owns 153,902 shares in the company, valued at approximately $22,172,661.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Benoit Dageville sold 6,591 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $150.00, for a total value of $988,650.00. Following the completion of the transaction, the insider now owns 43,063 shares in the company, valued at $6,459,450. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Dennis Mcmahon sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $144.07, for a total transaction of $1,440,700.00. Following the completion of the sale, the director now owns 153,902 shares in the company, valued at $22,172,661.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 654,652 shares of company stock worth $115,819,558. Corporate insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several analyst reports. Loop Capital reduced their target price on shares of Snowflake from $200.00 to $195.00 in a report on Thursday, May 25th. JMP Securities lowered their target price on shares of Snowflake from $215.00 to $200.00 in a research note on Thursday, May 25th. Citigroup cut their price target on Snowflake from $202.00 to $189.00 in a research note on Friday, May 26th. 888 reaffirmed a “maintains” rating on shares of Snowflake in a research report on Wednesday, June 28th. Finally, Wells Fargo & Company raised their target price on Snowflake from $185.00 to $195.00 in a research report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $191.69.

Snowflake Stock Down 0.2 %

Shares of NYSE:SNOW opened at $175.90 on Friday. The company has a 50-day moving average price of $174.77 and a 200 day moving average price of $157.11. Snowflake Inc. has a 52 week low of $119.27 and a 52 week high of $205.66. The company has a market cap of $57.33 billion, a P/E ratio of -65.88 and a beta of 0.75.

Snowflake (NYSE:SNOW – Get Free Report) last posted its quarterly earnings results on Wednesday, May 24th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.24). Snowflake had a negative net margin of 37.78% and a negative return on equity of 14.81%. The business had revenue of $623.60 million during the quarter, compared to analyst estimates of $607.57 million. Analysts expect that Snowflake Inc. will post -1.48 EPS for the current year.

Snowflake Company Profile

(Free Report)

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.

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