Swedbank AB Sells 143,185 Shares of Snowflake Inc. (NYSE:SNOW)

Swedbank AB cut its position in Snowflake Inc. (NYSE:SNOW) by 10.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,259,293 shares of the company’s stock after selling 143,185 shares during the period. Swedbank AB’s holdings in Snowflake were worth $144,642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP raised its position in shares of Snowflake by 320.0% in the fourth quarter. Quarry LP now owns 210 shares of the company’s stock valued at $42,000 after purchasing an additional 160 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of Snowflake in the fourth quarter valued at about $509,000. Centaurus Financial Inc. raised its position in shares of Snowflake by 364.0% in the fourth quarter. Centaurus Financial Inc. now owns 3,039 shares of the company’s stock valued at $605,000 after purchasing an additional 2,384 shares during the period. Syon Capital LLC bought a new position in shares of Snowflake in the fourth quarter valued at about $296,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Snowflake in the fourth quarter valued at about $43,000. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 6,251 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $715,051.89. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at $23,877,196.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,538 shares of company stock valued at $7,049,994. 7.80% of the stock is owned by insiders.

Snowflake Stock Performance

SNOW traded up $0.02 during mid-day trading on Tuesday, reaching $123.18. 2,437,932 shares of the stock were exchanged, compared to its average volume of 6,688,872. The stock has a market capitalization of $41.24 billion, a PE ratio of -43.98 and a beta of 0.83. The company has a 50 day moving average price of $116.56 and a two-hundred day moving average price of $134.08. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last issued 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 for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.52) EPS. Sell-side analysts expect that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. DA Davidson reissued a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. Stifel Nicolaus lowered their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Evercore ISI lowered their price target on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group lowered their price target 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. Finally, HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and raised their price target for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Two investment 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. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $174.74.

About Snowflake

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.