Apollon Wealth Management LLC Sells 853 Shares of Snowflake Inc. (NYSE:SNOW)

Apollon Wealth Management LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 9.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,544 shares of the company’s stock after selling 853 shares during the quarter. Apollon Wealth Management LLC’s holdings in Snowflake were worth $981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in SNOW. Once Capital Management LLC increased its position in shares of Snowflake by 66.8% in the third quarter. Once Capital Management LLC now owns 68,400 shares of the company’s stock worth $7,856,000 after purchasing an additional 27,400 shares during the period. Fountainhead AM LLC increased its position in shares of Snowflake by 13.4% in the third quarter. Fountainhead AM LLC now owns 4,810 shares of the company’s stock worth $552,000 after purchasing an additional 568 shares during the period. Baker Avenue Asset Management LP increased its position in shares of Snowflake by 49.8% in the third quarter. Baker Avenue Asset Management LP now owns 23,794 shares of the company’s stock worth $2,733,000 after purchasing an additional 7,914 shares during the period. Mayflower Financial Advisors LLC increased its position in shares of Snowflake by 39.3% in the third quarter. Mayflower Financial Advisors LLC now owns 4,192 shares of the company’s stock worth $481,000 after purchasing an additional 1,182 shares during the period. Finally, Covestor Ltd increased its position in shares of Snowflake by 16.2% in the third quarter. Covestor Ltd now owns 827 shares of the company’s stock worth $95,000 after purchasing an additional 115 shares during the period. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on SNOW shares. DA Davidson reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. Argus started coverage on Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating on the stock. Robert W. Baird reduced their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. Finally, Scotiabank reduced their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $172.09.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Performance

Shares of SNOW stock opened at $125.92 on Friday. The company has a market cap of $42.21 billion, a P/E ratio of -41.15 and a beta of 0.83. The stock has a 50 day simple moving average of $116.73 and a two-hundred day simple moving average of $128.68. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.52) earnings per share. On average, research analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current year.

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.