Guardian Partners Inc. Reduces Stake in Snowflake Inc. $SNOW

Guardian Partners Inc. reduced its stake in shares of Snowflake Inc. (NYSE:SNOW) by 58.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,801 shares of the company’s stock after selling 5,299 shares during the period. Guardian Partners Inc.’s holdings in Snowflake were worth $575,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. HHM Wealth Advisors LLC lifted its stake in Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. United Asset Strategies Inc. grew its holdings in Snowflake by 1.4% during the fourth quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock valued at $777,000 after purchasing an additional 50 shares during the period. Physician Wealth Advisors Inc. increased its position in Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after buying an additional 51 shares during the last quarter. ORG Partners LLC increased its position in Snowflake by 3.3% in the fourth quarter. ORG Partners LLC now owns 1,796 shares of the company’s stock worth $394,000 after buying an additional 58 shares during the last quarter. Finally, Beaumont Financial Advisors LLC raised its stake in shares of Snowflake by 4.7% in the fourth quarter. Beaumont Financial Advisors LLC now owns 1,312 shares of the company’s stock valued at $288,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 437,076 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the completion of the transaction, the director directly owned 38,046 shares in the company, valued at approximately $9,603,951.78. This trade represents a 91.99% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Mark Garrett sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the transaction, the director owned 8,801 shares of the company’s stock, valued at $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,102,015 shares of company stock valued at $504,063,952 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Shares of NYSE SNOW opened at $269.83 on Wednesday. The stock has a market cap of $93.52 billion, a PE ratio of -76.66 and a beta of 1.35. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two 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 stock has a fifty day moving average of $243.29 and a 200-day moving average of $195.70.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. Equities research analysts anticipate that Snowflake Inc. will post -1.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SNOW shares. Needham & Company LLC increased their price target on Snowflake from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Benchmark boosted their price objective on Snowflake from $200.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Truist Financial upped their price objective on shares of Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, June 5th. Royal Bank Of Canada increased their target price on shares of Snowflake from $284.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, Canaccord Genuity Group lifted their target price on shares of Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Thirty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $296.27.

About Snowflake

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.