Perkins Coie Trust Co Sells 50 Shares of Snowflake Inc. $SNOW

Perkins Coie Trust Co lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 11.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 385 shares of the company’s stock after selling 50 shares during the quarter. Perkins Coie Trust Co’s holdings in Snowflake were worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in Snowflake during the 4th quarter valued at $259,000. Snowden Capital Advisors LLC purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $298,000. Toronto Dominion Bank increased its position in shares of Snowflake by 9.2% during the fourth quarter. Toronto Dominion Bank now owns 40,655 shares of the company’s stock valued at $6,278,000 after buying an additional 3,429 shares during the period. Finally, Vident Advisory LLC raised its holdings in Snowflake by 56.7% in the fourth quarter. Vident Advisory LLC now owns 7,130 shares of the company’s stock worth $1,101,000 after purchasing an additional 2,580 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Insider Transactions at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $224.84, for a total value of $90,610.52. Following the transaction, the director directly owned 25,733 shares of the company’s stock, valued at $5,785,807.72. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 2,975 shares of Snowflake 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 $658,189.00. Following the transaction, the executive vice president owned 547,724 shares in the company, valued at approximately $121,178,457.76. The trade was a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,224,646 shares of company stock valued at $720,005,171 over the last ninety days. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SNOW shares. Robert W. Baird increased their price target on shares of Snowflake from $215.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Barclays lifted their price target on shares of Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Scotiabank increased their target price on Snowflake from $230.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. UBS Group boosted their price target on shares of Snowflake from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Cantor Fitzgerald raised their target price on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $255.53.

Snowflake Trading Up 1.8%

NYSE SNOW opened at $221.94 on Friday. Snowflake Inc. has a 1 year low of $108.71 and a 1 year high of $249.99. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $75.19 billion, a PE ratio of -53.48 and a beta of 1.22. The company has a fifty day moving average of $212.77 and a 200 day moving average of $190.26.

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, 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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. Research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.