Snowflake Inc. (NYSE:SNOW) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 14.8% in the 3rd quarter, Holdings Channel reports. The firm owned 2,644 shares of the company’s stock after selling 458 shares during the period. Daymark Wealth Partners LLC’s holdings in Snowflake were worth $304,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB purchased a new position in Snowflake in the 1st quarter worth about $258,957,000. Vanguard Group Inc. increased its position in shares of Snowflake by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after acquiring an additional 1,559,830 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Snowflake in the first quarter worth approximately $171,608,000. AQR Capital Management LLC lifted its position in shares of Snowflake by 210.0% in the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after acquiring an additional 660,168 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Snowflake by 471.9% in the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after purchasing an additional 628,511 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Up 0.2 %

Shares of Snowflake stock opened at $124.04 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company’s fifty day simple moving average is $116.35 and its 200-day simple moving average is $134.69. The company has a market cap of $41.58 billion, a price-to-earnings ratio of -40.54 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the business posted ($0.52) EPS. As a group, research analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on SNOW. Loop Capital cut their target price on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Bank of America reduced their price objective on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Robert W. Baird dropped their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Barclays decreased their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Wedbush dropped their price objective on shares of Snowflake from $210.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.74.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock worth $7,049,994 over the last three months. Company insiders own 7.80% of the company’s stock.

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.