Snowflake Inc. $SNOW Stock Sold by NFSG Corp

NFSG Corp cut its stake in shares of Snowflake Inc. (NYSE:SNOW) by 34.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,670 shares of the company’s stock after selling 15,050 shares during the quarter. Snowflake comprises about 1.0% of NFSG Corp’s investment portfolio, making the stock its 25th largest position. NFSG Corp’s holdings in Snowflake were worth $9,735,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. FNY Investment Advisers LLC purchased a new stake in Snowflake in the 2nd quarter worth approximately $1,399,000. Silicon Valley Capital Partners raised its holdings in Snowflake by 15.2% in the 2nd quarter. Silicon Valley Capital Partners now owns 62,087 shares of the company’s stock valued at $15,801,000 after acquiring an additional 8,208 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Snowflake by 105.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 92,937 shares of the company’s stock worth $14,017,000 after purchasing an additional 47,601 shares during the period. Diversify Wealth Management LLC lifted its stake in shares of Snowflake by 395.3% during the 1st quarter. Diversify Wealth Management LLC now owns 123,007 shares of the company’s stock worth $17,371,000 after purchasing an additional 98,172 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Snowflake by 7.1% during the first quarter. Swiss National Bank now owns 944,600 shares of the company’s stock worth $142,465,000 after purchasing an additional 62,600 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $325.00, for a total value of $8,125,000.00. Following the transaction, the executive vice president directly owned 340,379 shares in the company, valued at $110,623,175. This trade represents a 6.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 50,000 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $350.00, for a total transaction of $17,500,000.00. Following the sale, the director directly owned 10,074 shares of the company’s stock, valued at approximately $3,525,900. This trade represents a 83.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,246,429 shares of company stock valued at $396,227,952. 4.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Mizuho set a $425.00 price objective on Snowflake in a research report on Thursday, September 3rd. UBS Group upped their target price on Snowflake from $425.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Thursday, September 3rd. Wells Fargo & Company raised their price target on Snowflake from $500.00 to $525.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Finally, Argus lifted their price target on Snowflake from $300.00 to $450.00 and gave the company a “buy” rating in a report on Friday, September 4th. Thirty-five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $414.24.

Snowflake Stock Up 0.2%

Shares of NYSE SNOW opened at $335.81 on Friday. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $384.56. The firm has a fifty day moving average of $333.72 and a 200-day moving average of $254.53. The stock has a market capitalization of $118.47 billion, a PE ratio of -105.60 and a beta of 1.35. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, analysts anticipate that Snowflake Inc. will post -1.44 EPS for the current year.

About Snowflake

Snowflake Inc (NYSE: SNOW) provides a cloud-based data platform that enables organizations to store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and artificial intelligence workloads in a single environment.

Snowflake’s services include cloud data storage and computing, data sharing and collaboration tools, governance and security capabilities, and access to third-party data through the Snowflake Marketplace.