Snowflake Inc. $SNOW Stock Sold by Coastline Trust Co

Coastline Trust Co reduced its holdings in Snowflake Inc. (NYSE:SNOW) by 18.3% during the third quarter, Holdings Channel.com reports. The fund owned 7,204 shares of the company’s stock after selling 1,610 shares during the quarter. Coastline Trust Co’s holdings in Snowflake were worth $2,446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SNOW. Parkside Financial Bank & Trust grew its holdings in shares of Snowflake by 15.6% during the second quarter. Parkside Financial Bank & Trust now owns 334 shares of the company’s stock worth $85,000 after purchasing an additional 45 shares in the last quarter. Tsfg LLC raised its stake in Snowflake by 27.8% in the second quarter. Tsfg LLC now owns 230 shares of the company’s stock valued at $59,000 after purchasing an additional 50 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Snowflake by 4.1% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,640 shares of the company’s stock valued at $417,000 after purchasing an additional 65 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in Snowflake by 0.5% during the second quarter. Wealthcare Advisory Partners LLC now owns 13,682 shares of the company’s stock valued at $3,482,000 after purchasing an additional 66 shares during the last quarter. Finally, Glen Eagle Advisors LLC grew its stake in Snowflake by 49.3% in the 4th quarter. Glen Eagle Advisors LLC now owns 209 shares of the company’s stock worth $46,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research analyst reports. Truist Financial set a $425.00 price target on shares of Snowflake and gave the stock a “buy” rating in a report on Thursday, September 3rd. Mizuho set a $425.00 price objective on shares of Snowflake in a report on Thursday, September 3rd. Citizens Jmp increased their target price on Snowflake from $408.00 to $488.00 and gave the company a “market outperform” rating in a research note on Thursday, September 3rd. The Goldman Sachs Group raised their price target on Snowflake from $300.00 to $436.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Finally, TD Cowen lifted their price target on Snowflake from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target of $414.24.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 25,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $325.00, for a total value of $8,125,000.00. Following the transaction, the executive vice president owned 340,379 shares in the company, valued at approximately $110,623,175. The trade was a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $324.06, for a total transaction of $16,312,532.28. Following the transaction, the director directly owned 26,036 shares of the company’s stock, valued at approximately $8,437,226.16. This trade represents a 65.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,231,772 shares of company stock worth $386,823,616 over the last ninety days. Company insiders own 4.80% of the company’s stock.

Snowflake Trading Down 0.2%

Shares of SNOW traded down $0.72 during trading hours on Thursday, hitting $338.84. The company had a trading volume of 2,041,874 shares, compared to its average volume of 6,598,656. The firm has a market cap of $119.54 billion, a P/E ratio of -106.60 and a beta of 1.33. The stock’s 50 day moving average price is $322.17 and its 200 day moving average price is $240.91. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $384.56.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%.The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the business posted $0.35 EPS. Snowflake’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, research analysts predict that Snowflake Inc. will post -1.46 EPS for the current year.

Snowflake Profile

Snowflake Inc (NYSE: SNOW) provides a cloud-based data platform that enables organizations to store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and artificial intelligence workloads in a single environment.

Snowflake’s services include cloud data storage and computing, data sharing and collaboration tools, governance and security capabilities, and access to third-party data through the Snowflake Marketplace.