Wealth Architects LLC Sells 2,870 Shares of Snowflake Inc. $SNOW

Wealth Architects LLC decreased its position in Snowflake Inc. (NYSE:SNOW) by 24.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,818 shares of the company’s stock after selling 2,870 shares during the quarter. Wealth Architects LLC’s holdings in Snowflake were worth $1,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Kingstone Capital Partners Texas LLC purchased a new position in shares of Snowflake during the second quarter worth approximately $3,900,134,000. Nuveen LLC bought a new position in shares of Snowflake during the 1st quarter valued at $555,847,000. AQR Capital Management LLC grew its holdings in shares of Snowflake by 346.2% during the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after purchasing an additional 2,460,769 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after purchasing an additional 763,673 shares during the period. Finally, Amundi lifted its stake in Snowflake by 72.7% in the first quarter. Amundi now owns 1,808,250 shares of the company’s stock worth $252,974,000 after purchasing an additional 760,923 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on SNOW shares. Monness Crespi & Hardt lifted their price objective on Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. The Goldman Sachs Group lifted their price target on Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. DA Davidson reissued a “buy” rating and set a $250.00 price objective on shares of Snowflake in a research note on Monday, August 25th. Citigroup reaffirmed an “outperform” rating on shares of Snowflake in a research note on Thursday, August 28th. Finally, Cowen reissued a “buy” rating on shares of Snowflake in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $256.18.

Snowflake Stock Down 3.3%

Shares of Snowflake stock opened at $242.52 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 12-month low of $113.23 and a 12-month high of $255.39. The company has a market cap of $82.17 billion, a P/E ratio of -58.44 and a beta of 1.21. The company’s fifty day simple moving average is $218.64 and its two-hundred day simple moving average is $199.11.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. Research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 710,083 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares of the company’s stock, valued at approximately $38,144,398.29. This represents a 81.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the transaction, the senior vice president owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,182,434 shares of company stock worth $270,280,661 over the last quarter. Insiders own 6.80% of the company’s stock.

About Snowflake

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.