3,844 Snowflake Inc. $SNOW Shares Sold by Keybank National Association OH

Keybank National Association OH reduced its holdings in Snowflake Inc. (NYSE:SNOW) by 13.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,140 shares of the company’s stock after selling 3,844 shares during the period. Keybank National Association OH’s holdings in Snowflake were worth $8,537,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in Snowflake by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock worth $452,014,000 after acquiring an additional 544,960 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Snowflake by 134.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company’s stock valued at $268,351,000 after purchasing an additional 453,342 shares during the period. National Pension Service lifted its stake in shares of Snowflake by 3.3% in the 2nd quarter. National Pension Service now owns 690,349 shares of the company’s stock valued at $175,694,000 after purchasing an additional 21,915 shares during the period. Swiss National Bank lifted its stake in shares of Snowflake by 7.1% in the 1st quarter. Swiss National Bank now owns 944,600 shares of the company’s stock valued at $142,465,000 after purchasing an additional 62,600 shares during the period. Finally, CI Investments Inc. lifted its stake in shares of Snowflake by 34.6% in the 1st quarter. CI Investments Inc. now owns 720,810 shares of the company’s stock valued at $108,713,000 after purchasing an additional 185,261 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of Snowflake stock opened at $299.01 on Friday. The company has a market capitalization of $105.49 billion, a PE ratio of -94.03 and a beta of 1.32. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $384.56. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The stock’s fifty day simple moving average is $326.01 and its 200 day simple moving average is $243.40.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $0.35 earnings per share. Snowflake’s revenue was up 35.1% compared to the same quarter last year. On average, research analysts predict that Snowflake Inc. will post -1.42 EPS for the current year.

Insiders Place Their Bets

In other Snowflake news, Director Mark Garrett sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $350.00, for a total transaction of $17,500,000.00. Following the sale, the director directly owned 10,074 shares in the company, valued at approximately $3,525,900. This trade represents a 83.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $353.87, for a total transaction of $17,813,108.06. Following the completion of the transaction, the director directly owned 25,196 shares in the company, valued at approximately $8,916,108.52. The trade was a 66.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,186,443 shares of company stock valued at $387,734,752 over the last 90 days. 4.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNOW. Royal Bank Of Canada raised their price target on Snowflake from $372.00 to $440.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Oppenheimer upped their price objective on Snowflake from $400.00 to $475.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. UBS Group upped their price objective on Snowflake from $425.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Monness Crespi & Hardt increased their target price on Snowflake from $380.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Finally, Piper Sandler restated an “overweight” rating and set a $450.00 target price (up from $320.00) on shares of Snowflake in a report on Thursday, September 3rd. Thirty-six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $413.87.

About Snowflake

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.