Parkside Financial Bank & Trust Sells 391 Shares of Snowflake Inc. $SNOW

Parkside Financial Bank & Trust lessened its stake in Snowflake Inc. (NYSE:SNOW) by 59.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269 shares of the company’s stock after selling 391 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Snowflake were worth $60,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SNOW. Trust Co. of Toledo NA OH purchased a new position in Snowflake during the 2nd quarter worth $25,000. Avion Wealth lifted its position in shares of Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares in the last quarter. Rossby Financial LCC lifted its position in shares of Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 127 shares in the last quarter. Whittier Trust Co. boosted its holdings in Snowflake by 149.1% during the second quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after purchasing an additional 82 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its position in Snowflake by 417.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock worth $34,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Sanford C. Bernstein lifted their target price on shares of Snowflake from $191.00 to $221.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Oppenheimer reiterated an “outperform” rating and set a $295.00 price target on shares of Snowflake in a report on Friday, October 17th. Robert W. Baird upped their price objective on Snowflake from $215.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Canaccord Genuity Group raised their target price on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, Bank of America raised shares of Snowflake from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $220.00 to $240.00 in a report on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have issued 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 $258.95.

Snowflake Trading Up 1.0%

Shares of SNOW opened at $271.16 on Wednesday. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67. The business has a 50-day moving average of $241.91 and a 200 day moving average of $217.11. The firm has a market cap of $91.87 billion, a P/E ratio of -65.34 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 released its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. The business 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 company’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. As a group, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $277.73, for a total value 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 approximately $145,100,038.50. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the sale, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 931,388 shares of company stock worth $216,578,628. 6.80% of the stock is owned by corporate insiders.

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.