Snowflake Inc. (NYSE:SNOW) Shares Sold by Swedbank AB

Swedbank AB lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 10.2% during the 3rd quarter, according to its most recent disclosure 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 period. Swedbank AB owned 0.38% of Snowflake worth $144,642,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. LRI Investments LLC lifted its holdings in shares of Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new position in shares of Snowflake during the second quarter valued at approximately $27,000. V Square Quantitative Management LLC purchased a new position in shares of Snowflake during the third quarter valued at approximately $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake during the third quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Snowflake during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares of the company’s stock, valued at $5,932,582.50. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock valued at $7,061,544 in the last ninety days. Company insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

SNOW has been the topic of several recent analyst reports. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. UBS Group reduced their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Jefferies Financial Group upped their price target on shares of Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. Mizuho upped their price target on shares of Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Scotiabank dropped their price target on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 22nd. One 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, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Stock Performance

NYSE SNOW opened at $167.44 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The company has a 50-day simple moving average of $120.06 and a 200-day simple moving average of $128.00. The firm has a market capitalization of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 33.02% and a negative return on equity of 22.01%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.52) EPS. Equities analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current 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.