City State Bank Sells 1,793 Shares of Snowflake Inc. $SNOW

City State Bank lessened its stake in shares of Snowflake Inc. (NYSE:SNOW) by 52.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,621 shares of the company’s stock after selling 1,793 shares during the period. City State Bank’s holdings in Snowflake were worth $363,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SNOW. Kingstone Capital Partners Texas LLC bought a new stake in Snowflake during the second quarter worth about $3,900,134,000. Nuveen LLC acquired a new position in Snowflake during the first quarter worth approximately $555,847,000. AQR Capital Management LLC increased its position in Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after buying an additional 2,460,769 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after buying an additional 763,673 shares during the last quarter. Finally, Amundi increased its position in Snowflake by 72.7% during the first quarter. Amundi now owns 1,808,250 shares of the company’s stock worth $252,974,000 after buying an additional 760,923 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $257.84 on Friday. Snowflake Inc. has a 12 month low of $113.23 and a 12 month high of $259.75. The stock’s 50 day moving average is $227.78 and its 200-day moving average is $205.48. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $87.36 billion, a price-to-earnings ratio of -62.13 and a beta of 1.21.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 earnings per share. Equities research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser sold 2,976 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $236.01, for a total transaction of $702,365.76. Following the sale, the director owned 34,436 shares of the company’s stock, valued at $8,127,240.36. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $250.00, for a total value of $1,250,000.00. Following the sale, the executive vice president owned 43,568 shares of the company’s stock, valued at $10,892,000. The trade was a 10.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,182,434 shares of company stock valued at $270,280,661 over the last ninety days. 6.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. BTIG Research boosted their price target on Snowflake from $235.00 to $276.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Barclays boosted their price target on Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Truist Financial boosted their price target on Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Cowen reissued a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Finally, Stephens assumed coverage on Snowflake in a research report on Friday, July 18th. They issued an “overweight” rating and a $261.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $257.24.

Snowflake 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.