Keybank National Association OH Cuts Holdings in Snowflake Inc. $SNOW

Keybank National Association OH trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 0.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 45,139 shares of the company’s stock after selling 67 shares during the period. Keybank National Association OH’s holdings in Snowflake were worth $10,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Snowflake by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after acquiring an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snowflake in the 2nd quarter worth approximately $3,900,134,000. Jennison Associates LLC grew its holdings in shares of Snowflake by 20.5% in the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after acquiring an additional 1,363,389 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 acquiring an additional 763,673 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Snowflake in the 1st quarter worth approximately $555,847,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In other news, CAO Emily Ho sold 1,658 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total transaction of $373,464.50. Following the sale, the chief accounting officer owned 31,745 shares in the company, valued at $7,150,561.25. This trade represents a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 5,000 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $250.00, for a total value of $1,250,000.00. Following the sale, the executive vice president owned 43,568 shares in the company, valued at $10,892,000. This trade represents a 10.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 865,647 shares of company stock valued at $199,370,673. 6.80% of the stock is currently owned by insiders.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $274.81 on Friday. The business’s fifty day moving average price is $235.24 and its two-hundred day moving average price is $210.24. The stock has a market cap of $93.11 billion, a PE ratio of -66.22 and a beta of 1.21. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. Snowflake Inc. has a one year low of $113.23 and a one year high of $275.48.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the firm earned $0.18 earnings per share. The business’s revenue was up 31.8% on a year-over-year basis. On average, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SNOW shares. UBS Group upped their price target on Snowflake from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Piper Sandler upped their price target on Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Macquarie upped their price target on Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Royal Bank Of Canada increased their target price on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Finally, The Goldman Sachs Group increased their target price on Snowflake from $230.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $258.95.

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.