Metis Global Partners LLC Sells 1,468 Shares of Snowflake Inc. $SNOW

Metis Global Partners LLC trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 17.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,878 shares of the company’s stock after selling 1,468 shares during the period. Metis Global Partners LLC’s holdings in Snowflake were worth $1,539,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Trust Co. of Toledo NA OH acquired a new position in shares of Snowflake during the 2nd quarter valued at $25,000. Avion Wealth increased its stake in Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares in the last quarter. Rossby Financial LCC increased its stake in Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 127 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Snowflake by 149.1% during the second quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in shares of Snowflake by 417.2% during the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock worth $34,000 after purchasing an additional 121 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group boosted their target price on Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Bank of America raised Snowflake from a “neutral” rating to a “buy” rating and raised their price objective for the company from $220.00 to $240.00 in a research note on Wednesday, August 20th. Truist Financial upped their target price on Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Macquarie upped their target price on Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $258.95.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $277.73, for a total value of $2,777,300.00. Following the completion of the sale, the executive vice president owned 522,450 shares in the company, valued at approximately $145,100,038.50. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was 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 in the company, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 931,388 shares of company stock worth $216,578,628 over the last quarter. Insiders own 6.80% of the company’s stock.

Snowflake Stock Up 2.3%

Shares of NYSE:SNOW opened at $268.92 on Tuesday. The stock has a market cap of $91.11 billion, a price-to-earnings ratio of -64.80 and a beta of 1.23. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The business’s 50 day moving average is $241.16 and its 200 day moving average is $216.31.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.Snowflake’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. On average, sell-side analysts forecast 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.