Whittier Trust Co. Has $31,000 Stock Position in Snowflake Inc. $SNOW

Whittier Trust Co. lifted its stake in Snowflake Inc. (NYSE:SNOW) by 149.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 137 shares of the company’s stock after purchasing an additional 82 shares during the quarter. Whittier Trust Co.’s holdings in Snowflake were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Advantage Inc. boosted its position in shares of Snowflake by 1.1% in the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after purchasing an additional 48 shares during the period. Ignite Planners LLC boosted its position in Snowflake by 2.3% during the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock worth $418,000 after acquiring an additional 64 shares during the period. Koshinski Asset Management Inc. boosted its position in Snowflake by 4.2% during the 2nd quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock worth $359,000 after acquiring an additional 64 shares during the period. TD Private Client Wealth LLC boosted its position in Snowflake by 8.9% during the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock worth $122,000 after acquiring an additional 68 shares during the period. Finally, Pallas Capital Advisors LLC boosted its position in Snowflake by 0.3% during the 2nd quarter. Pallas Capital Advisors LLC now owns 24,444 shares of the company’s stock worth $5,470,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser sold 2,976 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $236.01, for a total value of $702,365.76. Following the completion of the sale, the director directly owned 34,436 shares in the company, valued at approximately $8,127,240.36. The trade was a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 7,551 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total value of $1,670,583.24. Following the completion of the sale, the director owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. This trade represents a 4.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,182,434 shares of company stock worth $270,280,661 over the last quarter. Insiders own 6.80% of the company’s stock.

Snowflake Stock Up 1.9%

Shares of Snowflake stock opened at $257.84 on Friday. The firm has a market cap of $87.36 billion, a price-to-earnings ratio of -62.13 and a beta of 1.21. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. Snowflake Inc. has a 52-week low of $113.23 and a 52-week high of $259.75. The stock has a 50-day simple moving average of $227.78 and a 200-day simple moving average of $205.48.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates 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 revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. On average, equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on SNOW shares. Stifel Nicolaus raised their price objective on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Mizuho raised their price objective on Snowflake from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Robert W. Baird raised their price objective on Snowflake from $215.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Cantor Fitzgerald raised their price objective on Snowflake from $242.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Finally, Citigroup restated an “outperform” rating on shares of Snowflake in a research report on Thursday, August 28th. Two 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. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $257.24.

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.