Snowflake Inc. $SNOW Shares Sold by Liberty One Investment Management LLC

Liberty One Investment Management LLC lowered its stake in Snowflake Inc. (NYSE:SNOW) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,115 shares of the company’s stock after selling 204 shares during the quarter. Liberty One Investment Management LLC’s holdings in Snowflake were worth $250,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advantage Inc. lifted its stake in shares of Snowflake by 1.1% in the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after acquiring an additional 48 shares during the period. Ignite Planners LLC increased its stake in shares of Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock valued at $418,000 after acquiring an additional 64 shares during the period. Koshinski Asset Management Inc. raised its holdings in Snowflake by 4.2% during the second quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock worth $359,000 after purchasing an additional 64 shares in the last quarter. Archford Capital Strategies LLC raised its holdings in Snowflake by 1.9% during the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock worth $527,000 after purchasing an additional 68 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its position in Snowflake by 8.9% in the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock worth $122,000 after purchasing an additional 68 shares during the period. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Snowflake from $230.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Evercore ISI raised their target price on Snowflake from $240.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Raymond James Financial lifted their target price on Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Bank of America raised shares of Snowflake from a “neutral” rating to a “buy” rating and upped their price target for the company from $220.00 to $240.00 in a report on Wednesday, August 20th. Finally, Stifel Nicolaus raised their price objective on shares of Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.24.

Snowflake Trading Up 0.8%

Shares of SNOW opened at $247.52 on Wednesday. The business’s 50-day moving average price is $224.55 and its 200 day moving average price is $203.51. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $83.86 billion, a P/E ratio of -59.64 and a beta of 1.21. Snowflake Inc. has a 1-year low of $113.23 and a 1-year high of $255.39.

Snowflake (NYSE:SNOW) last announced its 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 company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 31.8% on a year-over-year basis. During the same period last year, the company posted $0.18 earnings per share. Analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity

In other news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total value of $2,335,000.00. Following the completion of the sale, the executive vice president owned 527,336 shares in the company, valued at $123,132,956. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president directly owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. This trade represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,182,434 shares of company stock worth $270,280,661. Company insiders own 6.80% of the company’s stock.

Snowflake 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.