Outfitter Financial LLC Sells 510 Shares of Snowflake Inc. $SNOW

Outfitter Financial LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 8.1% during the second quarter, Holdings Channel.com reports. The fund owned 5,755 shares of the company’s stock after selling 510 shares during the quarter. Outfitter Financial LLC’s holdings in Snowflake were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Trust Co. of Toledo NA OH bought a new stake in Snowflake during the 2nd quarter worth approximately $25,000. Avion Wealth raised its stake in Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 49 shares during the period. Rossby Financial LCC raised its stake in Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 127 shares during the period. Whittier Trust Co. raised its stake in Snowflake by 149.1% during the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares during the period. Finally, LGT Financial Advisors LLC bought a new stake in Snowflake during the 2nd quarter worth approximately $36,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 0.2%

Shares of SNOW opened at $264.93 on Thursday. The company’s fifty day moving average is $239.59 and its 200 day moving average is $213.31. Snowflake Inc. has a fifty-two week low of $118.80 and a fifty-two week high of $280.67. The stock has a market capitalization of $89.76 billion, a PE ratio of -63.84 and a beta of 1.23. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.18 earnings per share. Snowflake’s quarterly revenue was up 31.8% on a year-over-year basis. Sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Jefferies Financial Group raised their target price on shares of Snowflake from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Cowen reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Macquarie lifted their price objective on shares of Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Piper Sandler lifted 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. Finally, KeyCorp lifted their price objective on shares of Snowflake from $250.00 to $275.00 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 given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.95.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the completion of the transaction, the executive vice president directly owned 522,450 shares of the company’s stock, valued at $145,100,038.50. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction 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 of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 880,647 shares of company stock worth $203,522,973. Company insiders own 6.80% 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.