Snowflake Inc. $SNOW Shares Sold by SWS Partners

SWS Partners reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 29.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,263 shares of the company’s stock after selling 7,668 shares during the period. Snowflake accounts for about 1.0% of SWS Partners’ portfolio, making the stock its 27th largest holding. SWS Partners’ holdings in Snowflake were worth $4,119,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SNOW. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Snowflake in the second quarter worth about $6,845,000. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake in the 2nd quarter valued at about $3,900,134,000. Newbridge Financial Services Group Inc. lifted its stake in Snowflake by 81.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 20,141 shares of the company’s stock worth $4,507,000 after purchasing an additional 9,052 shares in the last quarter. Goldstream Capital Management Ltd purchased a new position in Snowflake in the 2nd quarter worth approximately $3,801,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Snowflake by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock worth $6,218,515,000 after purchasing an additional 595,553 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In related news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction 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. This trade represents a 4.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $257.30, for a total transaction of $12,951,967.40. Following the completion of the sale, the director owned 33,596 shares of the company’s stock, valued at $8,644,250.80. This trade represents a 59.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 423,681 shares of company stock valued at $98,164,051. 6.80% of the stock is owned by insiders.

Analyst Ratings Changes

SNOW has been the subject of several recent research reports. BTIG Research reaffirmed a “buy” rating and issued a $312.00 price target on shares of Snowflake in a report on Thursday, December 4th. DA Davidson restated a “buy” rating and issued a $300.00 target price on shares of Snowflake in a report on Monday, December 1st. Sanford C. Bernstein reiterated a “market perform” rating and set a $237.00 price target on shares of Snowflake in a report on Thursday, December 4th. Royal Bank Of Canada reissued an “outperform” rating on shares of Snowflake in a research report on Thursday, December 4th. Finally, Raymond James Financial set a $250.00 price objective on shares of Snowflake in a report on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $275.32.

Snowflake Stock Up 0.9%

Shares of NYSE:SNOW opened at $223.99 on Friday. The business has a 50-day moving average price of $245.91 and a 200 day moving average price of $228.15. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $76.65 billion, a price-to-earnings ratio of -55.44 and a beta of 1.09. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67.

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. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. Snowflake’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 earnings per share. Sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.