CENTRAL TRUST Co Trims Position in Snowflake Inc. (NYSE:SNOW)

CENTRAL TRUST Co lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 54.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 335 shares of the company’s stock after selling 400 shares during the quarter. CENTRAL TRUST Co’s holdings in Snowflake were worth $38,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SNOW. LRI Investments LLC grew its stake in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new stake in shares of Snowflake during the second quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the third quarter worth $30,000. Opal Wealth Advisors LLC purchased a new position in Snowflake in the 2nd quarter valued at $39,000. Finally, Waldron Private Wealth LLC acquired a new position in Snowflake in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the topic of several analyst reports. Evercore ISI lowered their target price on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Stifel Nicolaus cut their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price target on shares of Snowflake in a research note on Monday, July 1st. Finally, HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Two investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.74.

Snowflake Trading Up 1.0 %

Snowflake stock opened at $116.04 on Monday. The stock has a fifty day moving average price of $115.59 and a 200 day moving average price of $131.68. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a market capitalization of $38.85 billion, a P/E ratio of -41.44 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.52) EPS. As a group, equities analysts predict that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at $86,252,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the executive vice president now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 218,246 shares in the company, valued at $23,998,330.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,538 shares of company stock valued at $7,049,994. Insiders own 7.80% of the company’s stock.

About Snowflake

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.