Brown Advisory Inc. Sells 129,461 Shares of Snowflake Inc. $SNOW

Brown Advisory Inc. trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,370,622 shares of the company’s stock after selling 129,461 shares during the period. Brown Advisory Inc. owned approximately 0.40% of Snowflake worth $300,665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Greenline Wealth Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at $29,000. GoalVest Advisory LLC grew its holdings in shares of Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. grew its holdings in shares of Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after purchasing an additional 51 shares during the last quarter. HHM Wealth Advisors LLC grew its holdings in shares of Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 50 shares during the last quarter. Finally, Ameriflex Group Inc. grew its holdings in shares of Snowflake by 252.2% in the 3rd quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock worth $37,000 after purchasing an additional 116 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. TD Cowen reaffirmed a “buy” rating and issued a $300.00 target price on shares of Snowflake in a report on Wednesday, June 3rd. The Goldman Sachs Group upped their target price on shares of Snowflake from $216.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wells Fargo & Company boosted their target price on Snowflake from $210.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. boosted their target price on Snowflake from $245.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, Barclays boosted their target price on Snowflake from $272.00 to $285.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $291.77.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the transaction, the director owned 29,396 shares of the company’s stock, valued at approximately $4,356,781.16. This represents a 63.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 437,076 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $252.43, for a total value of $110,331,094.68. Following the transaction, the director directly owned 38,046 shares in the company, valued at approximately $9,603,951.78. This represents a 91.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,589,550 shares of company stock valued at $359,438,410. 4.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Down 3.3%

NYSE:SNOW opened at $232.38 on Friday. The stock’s fifty day moving average price is $173.64 and its two-hundred day moving average price is $190.21. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $80.54 billion, a price-to-earnings ratio of -66.02 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $0.24 EPS. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. On average, analysts anticipate that Snowflake Inc. will post -1.87 EPS for the current year.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.