Marble Harbor Investment Counsel LLC Has $641,000 Holdings in Snowflake Inc. $SNOW

Marble Harbor Investment Counsel LLC trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 12.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,865 shares of the company’s stock after selling 400 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Snowflake were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Trust Co. of Toledo NA OH bought a new stake in Snowflake during the 2nd quarter worth approximately $25,000. Avion Wealth boosted 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 during the period. Rossby Financial LCC increased its position in shares of Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 127 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Snowflake by 149.1% during the second quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings in shares of Snowflake by 417.2% during the second quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock worth $34,000 after acquiring an additional 121 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Up 1.0%

Shares of Snowflake stock opened at $271.16 on Wednesday. The stock has a market cap of $91.87 billion, a P/E ratio of -65.34 and a beta of 1.23. The company has a quick ratio of 1.48, a current 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 business’s 50 day moving average is $241.91 and its 200-day moving average is $217.11.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company earned $0.18 earnings per share. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. Equities research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at approximately $38,144,398.29. This trade represents a 81.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were 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 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 quarter. 6.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on SNOW shares. Cantor Fitzgerald increased their target price on Snowflake from $242.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Piper Sandler increased their price objective on Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Needham & Company LLC lifted their target price on Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Robert W. Baird upped their price target on Snowflake from $215.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Finally, Cowen reaffirmed a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $259.89.

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.