Tradewinds Capital Management LLC Trims Stock Holdings in Snowflake Inc. $SNOW

Tradewinds Capital Management LLC decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 34.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160 shares of the company’s stock after selling 85 shares during the period. Tradewinds Capital Management LLC’s holdings in Snowflake were worth $36,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Capital Advantage Inc. increased its stake in shares of Snowflake by 1.1% in the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after purchasing an additional 48 shares in the last quarter. Ignite Planners LLC increased its stake in shares of Snowflake by 2.3% in the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock worth $418,000 after purchasing an additional 64 shares in the last quarter. Archford Capital Strategies LLC boosted its position in shares of Snowflake by 1.9% in the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock valued at $527,000 after acquiring an additional 68 shares during the period. TD Private Client Wealth LLC boosted its position in shares of Snowflake by 8.9% in the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock valued at $122,000 after acquiring an additional 68 shares during the period. Finally, Pallas Capital Advisors LLC boosted its position in shares of Snowflake by 0.3% in the second quarter. Pallas Capital Advisors LLC now owns 24,444 shares of the company’s stock valued at $5,470,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Needham & Company LLC raised their price objective on shares of Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Sanford C. Bernstein raised their price objective on shares of Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Evercore ISI raised their price objective on shares of Snowflake from $240.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. CICC Research assumed coverage on shares of Snowflake in a research report on Friday, June 20th. They issued an “outperform” rating and a $225.00 price objective for the company. Finally, Piper Sandler raised their price objective on shares of Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $256.71.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the transaction, the director directly owned 165,507 shares of the company’s stock, valued at approximately $38,144,398.29. This trade represents a 81.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,182,434 shares of company stock valued at $270,280,661. 6.80% of the stock is owned by insiders.

Snowflake Trading Up 0.3%

Shares of Snowflake stock opened at $240.68 on Friday. Snowflake Inc. has a 1 year low of $113.23 and a 1 year high of $255.39. The firm has a market cap of $81.54 billion, a PE ratio of -58.00 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. The company has a 50 day simple moving average of $222.38 and a two-hundred day simple moving average of $201.63.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business’s revenue was up 31.8% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. Analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.