Northside Capital Management LLC Decreases Holdings in Snowflake Inc. $SNOW

Northside Capital Management LLC trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,550 shares of the company’s stock after selling 3,639 shares during the quarter. Snowflake makes up about 1.8% of Northside Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Northside Capital Management LLC’s holdings in Snowflake were worth $19,747,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new stake in Snowflake during the second quarter valued at about $25,000. Avion Wealth lifted its position in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after buying an additional 49 shares in the last quarter. Rossby Financial LCC increased its holdings in Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 127 shares in the last quarter. Whittier Trust Co. raised its stake in Snowflake by 149.1% during the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in Snowflake by 417.2% during the second quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 7,728 shares of Snowflake stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $212.45, for a total value of $1,641,813.60. Following the completion of the transaction, the director owned 140,945 shares in the company, valued at approximately $29,943,765.25. This trade represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $257.30, for a total value of $12,951,967.40. Following the sale, the director owned 33,596 shares in the company, valued at approximately $8,644,250.80. This trade represents a 59.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 221,537 shares of company stock valued at $53,336,395. Corporate insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Guggenheim restated a “neutral” rating on shares of Snowflake in a research note on Wednesday, November 26th. Oppenheimer restated an “outperform” rating on shares of Snowflake in a research report on Friday, November 21st. Jefferies Financial Group set a $300.00 target price on Snowflake in a research report on Monday, November 24th. Wells Fargo & Company lifted their target price on Snowflake from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Cantor Fitzgerald upped their price target on Snowflake from $275.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.32.

Snowflake Stock Performance

NYSE:SNOW opened at $220.45 on Wednesday. The company has a market cap of $75.44 billion, a price-to-earnings ratio of -54.57 and a beta of 1.09. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The stock’s 50 day simple moving average is $249.39 and its two-hundred day simple moving average is $227.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company earned $0.20 EPS. The company’s quarterly revenue was up 28.7% compared to the same quarter last year. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal 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.