Metis Global Partners LLC Sells 1,468 Shares of Snowflake Inc. $SNOW

Metis Global Partners LLC reduced its stake in Snowflake Inc. (NYSE:SNOW) by 17.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,878 shares of the company’s stock after selling 1,468 shares during the period. Metis Global Partners LLC’s holdings in Snowflake were worth $1,539,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after acquiring an additional 29,320 shares during the period. Crossmark Global Holdings Inc. lifted its stake in Snowflake by 36.5% in the first quarter. Crossmark Global Holdings Inc. now owns 2,196 shares of the company’s stock valued at $321,000 after purchasing an additional 587 shares during the last quarter. Brown Advisory Inc. grew its holdings in Snowflake by 6.8% during the first quarter. Brown Advisory Inc. now owns 11,080 shares of the company’s stock valued at $1,619,000 after purchasing an additional 703 shares during the period. Nisa Investment Advisors LLC grew its holdings in Snowflake by 346.4% during the first quarter. Nisa Investment Advisors LLC now owns 9,085 shares of the company’s stock valued at $1,328,000 after purchasing an additional 7,050 shares during the period. Finally, Cerity Partners LLC increased its position in Snowflake by 62.7% in the first quarter. Cerity Partners LLC now owns 101,293 shares of the company’s stock worth $14,805,000 after buying an additional 39,040 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the topic of a number of recent research reports. Cowen reaffirmed a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Stephens started coverage on Snowflake in a research note on Friday, July 18th. They issued an “overweight” rating and a $261.00 price objective on the stock. Scotiabank increased their target price on shares of Snowflake from $230.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Royal Bank Of Canada lifted their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Finally, Cantor Fitzgerald boosted their price target on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $258.95.

Snowflake Trading Up 2.3%

Shares of Snowflake stock opened at $268.92 on Tuesday. The company’s 50-day moving average price is $241.16 and its 200-day moving average price is $216.31. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The company has a market cap of $91.11 billion, a price-to-earnings ratio of -64.80 and a beta of 1.23.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company earned $0.18 earnings per share. Snowflake’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total value of $2,335,000.00. Following the transaction, the executive vice president owned 527,336 shares of the company’s stock, valued at approximately $123,132,956. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president owned 241,854 shares in the company, valued at $53,986,649.88. This trade represents a 4.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 931,388 shares of company stock valued at $216,578,628 over the last 90 days. Company insiders own 6.80% of the company’s stock.

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.