SWS Partners Cuts Stock Position in Snowflake Inc. $SNOW

SWS Partners decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 29.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 18,263 shares of the company’s stock after selling 7,668 shares during the quarter. Snowflake makes up 1.0% of SWS Partners’ holdings, making the stock its 27th biggest holding. SWS Partners’ holdings in Snowflake were worth $4,119,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in SNOW. Capital Advantage Inc. lifted its holdings in Snowflake by 1.1% during the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after buying an additional 48 shares in the last quarter. Wedbush Securities Inc. increased its position in shares of Snowflake by 1.3% during the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after acquiring an additional 48 shares during the period. Avion Wealth raised its stake 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 acquiring an additional 49 shares in the last quarter. Insigneo Advisory Services LLC raised its stake in shares of Snowflake by 1.3% in the second quarter. Insigneo Advisory Services LLC now owns 4,003 shares of the company’s stock valued at $896,000 after acquiring an additional 52 shares in the last quarter. Finally, Advyzon Investment Management LLC boosted its holdings in Snowflake by 3.8% in the second quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock valued at $340,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SNOW. Robert W. Baird upped their price target on Snowflake from $260.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Citigroup cut their target price on shares of Snowflake from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, December 8th. Scotiabank reaffirmed an “outperform” rating on shares of Snowflake in a report on Thursday, December 4th. KeyCorp boosted their price target on shares of Snowflake from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Finally, Jefferies Financial Group set a $300.00 price objective on shares of Snowflake in a research report on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $275.32.

Insider Transactions at Snowflake

In other news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the sale, the senior vice president owned 241,854 shares in the company, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 200,000 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $221.83, for a total value of $44,366,000.00. Following the completion of the sale, the director directly owned 50,329 shares of the company’s stock, valued at $11,164,482.07. The trade was a 79.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 423,681 shares of company stock worth $98,164,051. 6.80% of the stock is owned by company insiders.

Snowflake Stock Up 0.9%

SNOW stock opened at $223.99 on Friday. The stock has a market cap of $76.65 billion, a P/E ratio of -55.44 and a beta of 1.09. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67. The company’s 50 day moving average is $245.91 and its two-hundred day moving average is $228.15.

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

About Snowflake

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.