Brown Advisory Inc. Sells 308 Shares of Snowflake Inc. (NYSE:SNOW)

Posted by Defense World Staff on Aug 16th, 2023

Brown Advisory Inc. cut its stake in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,252 shares of the company’s stock after selling 308 shares during the period. Brown Advisory Inc.’s holdings in Snowflake were worth $1,119,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wrapmanager Inc. increased its position in shares of Snowflake by 9.2% during the first quarter. Wrapmanager Inc. now owns 3,073 shares of the company’s stock valued at $474,000 after buying an additional 260 shares during the period. Glynn Capital Management LLC grew its holdings in shares of Snowflake by 1.1% during the first quarter. Glynn Capital Management LLC now owns 184,870 shares of the company’s stock worth $28,524,000 after purchasing an additional 2,074 shares in the last quarter. FineMark National Bank & Trust purchased a new position in shares of Snowflake during the first quarter worth about $208,000. Picton Mahoney Asset Management purchased a new position in shares of Snowflake during the first quarter worth about $4,569,000. Finally, Metis Global Partners LLC grew its holdings in shares of Snowflake by 73.7% during the first quarter. Metis Global Partners LLC now owns 4,821 shares of the company’s stock worth $744,000 after purchasing an additional 2,045 shares in the last quarter. 63.55% of the stock is currently owned by institutional investors.

Snowflake Trading Down 1.1 %

Shares of NYSE SNOW opened at $151.11 on Wednesday. The firm’s 50 day moving average price is $173.07 and its 200-day moving average price is $160.14. Snowflake Inc. has a 52-week low of $119.27 and a 52-week high of $205.66.

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

Insider Transactions at Snowflake

In other news, SVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $151.54, for a total transaction of $227,310.00. Following the completion of the transaction, the senior vice president now directly owns 764,397 shares of the company’s stock, valued at $115,836,721.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $151.54, for a total transaction of $227,310.00. Following the completion of the transaction, the senior vice president now directly owns 764,397 shares of the company’s stock, valued at $115,836,721.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 13,182 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $180.00, for a total transaction of $2,372,760.00. Following the transaction, the insider now directly owns 43,063 shares of the company’s stock, valued at $7,751,340. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 646,895 shares of company stock worth $114,723,184. Corporate insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNOW. Stifel Nicolaus boosted their price objective on Snowflake from $180.00 to $200.00 in a report on Wednesday, June 28th. Oppenheimer boosted their price objective on Snowflake from $190.00 to $220.00 in a report on Monday, July 17th. Wells Fargo & Company increased their price target on shares of Snowflake from $185.00 to $195.00 in a research report on Wednesday, June 28th. Needham & Company LLC increased their price target on shares of Snowflake from $180.00 to $216.00 in a research report on Wednesday, June 21st. Finally, 888 reiterated a “maintains” rating on shares of Snowflake in a research report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.69.

Get Our Latest Research Report on SNOW

Snowflake 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.