Arkfeld Wealth Strategies L.L.C. Reduces Position in Snowflake Inc. (NYSE:SNOW)

Arkfeld Wealth Strategies L.L.C. reduced its position in Snowflake Inc. (NYSE:SNOW) by 17.0% during the third quarter, HoldingsChannel.com reports. The firm owned 4,363 shares of the company’s stock after selling 896 shares during the period. Arkfeld Wealth Strategies L.L.C.’s holdings in Snowflake were worth $501,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. increased its stake in Snowflake by 2,182.3% in the third quarter. NBC Securities Inc. now owns 2,191 shares of the company’s stock worth $251,000 after purchasing an additional 2,095 shares during the period. ORG Partners LLC increased its stake in Snowflake by 15.0% in the 3rd quarter. ORG Partners LLC now owns 2,571 shares of the company’s stock worth $295,000 after buying an additional 335 shares during the period. Stablepoint Partners LLC increased its stake in Snowflake by 18.3% in the 3rd quarter. Stablepoint Partners LLC now owns 6,076 shares of the company’s stock worth $698,000 after buying an additional 941 shares during the period. Procyon Advisors LLC boosted its position in Snowflake by 20.6% in the 3rd quarter. Procyon Advisors LLC now owns 5,031 shares of the company’s stock valued at $578,000 after buying an additional 859 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in Snowflake by 15.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 21,976 shares of the company’s stock worth $2,524,000 after acquiring an additional 2,989 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the sale, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,049,994 in the last three months. 7.80% of the stock is currently owned by company insiders.

Snowflake Trading Up 0.4 %

SNOW traded up $0.52 on Tuesday, reaching $123.68. The stock had a trading volume of 1,348,788 shares, compared to its average volume of 6,683,399. The business’s 50-day moving average price is $116.56 and its two-hundred day moving average price is $134.08. The company has a market cap of $41.41 billion, a P/E ratio of -43.98 and a beta of 0.83. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. Snowflake’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.52) EPS. As a group, analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current year.

Analyst Ratings Changes

SNOW has been the topic of several research analyst reports. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. UBS Group decreased their price target on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Jefferies Financial Group cut their price objective on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Barclays reduced their price objective on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, Needham & Company LLC lowered their target price on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $174.74.

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.