Quadrant Private Wealth Management LLC Sells 5,999 Shares of Snowflake Inc. $SNOW

Quadrant Private Wealth Management LLC reduced its stake in Snowflake Inc. (NYSE:SNOW) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,229 shares of the company’s stock after selling 5,999 shares during the period. Snowflake accounts for approximately 2.4% of Quadrant Private Wealth Management LLC’s holdings, making the stock its 3rd biggest position. Quadrant Private Wealth Management LLC’s holdings in Snowflake were worth $13,359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH acquired a new position in shares of Snowflake in the 2nd quarter worth approximately $25,000. Avion Wealth increased its holdings in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after buying an additional 49 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Snowflake during the 3rd quarter valued at $25,000. Tripletail Wealth Management LLC bought a new stake in shares of Snowflake during the 3rd quarter worth $28,000. Finally, Rossby Financial LCC grew its holdings in shares of Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 127 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 2.4%

NYSE SNOW opened at $211.38 on Friday. The company has a market capitalization of $72.33 billion, a PE ratio of -52.32 and a beta of 1.14. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The firm’s fifty day simple moving average is $228.45 and its 200-day simple moving average is $228.37.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The business’s revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. KeyCorp upped their target price on Snowflake from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Snowflake in a research note on Wednesday. Stifel Nicolaus raised their target price on shares of Snowflake from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Citigroup cut their price target on shares of Snowflake from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, December 8th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Snowflake in a research note on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $275.58.

Insider Buying and Selling at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total value of $2,601,412.44. Following the completion of the sale, the senior vice president directly owned 218,020 shares in the company, valued at $48,060,328.80. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $230.65, for a total transaction of $11,610,459.70. Following the transaction, the director owned 32,756 shares in the company, valued at approximately $7,555,171.40. This trade represents a 60.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 618,681 shares of company stock worth $137,427,145 in the last ninety days. Insiders own 6.80% of the company’s stock.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.