Snowflake Inc. (NYSE:SNOW) Holdings Lowered by Swedbank AB

Swedbank AB reduced its holdings in Snowflake Inc. (NYSE:SNOW) by 10.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,259,293 shares of the company’s stock after selling 143,185 shares during the quarter. Swedbank AB’s holdings in Snowflake were worth $144,642,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Comerica Bank raised its holdings in shares of Snowflake by 17.2% during the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after acquiring an additional 4,296 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of Snowflake by 23.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after acquiring an additional 43,062 shares during the period. Cetera Investment Advisers raised its holdings in shares of Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock valued at $10,292,000 after acquiring an additional 42,563 shares during the period. LRI Investments LLC acquired a new stake in shares of Snowflake during the first quarter valued at approximately $29,000. Finally, Fulton Bank N.A. raised its holdings in shares of Snowflake by 17.4% during the second quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after acquiring an additional 228 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This represents a 2.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the transaction, the director now owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,061,544 in the last ninety days. 7.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNOW. Wells Fargo & Company boosted their price target on shares of Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday. TD Cowen boosted their price objective on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday. DA Davidson reaffirmed a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Trading Down 2.3 %

NYSE SNOW opened at $167.44 on Friday. The company has a fifty day simple moving average of $120.06 and a 200 day simple moving average of $128.00. The company has a market cap of $56.13 billion, a P/E ratio of -49.39 and a beta of 0.83. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 33.02% and a negative return on equity of 22.01%. Snowflake’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.52) EPS. Equities research analysts forecast that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Snowflake Company 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.