First American Trust FSB Lowers Stock Holdings in Snowflake Inc. $SNOW

First American Trust FSB reduced its holdings in Snowflake Inc. (NYSE:SNOW) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,248 shares of the company’s stock after selling 264 shares during the quarter. First American Trust FSB’s holdings in Snowflake were worth $5,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SNOW. Brighton Jones LLC increased its stake in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after acquiring an additional 29,320 shares during the last quarter. Larson Financial Group LLC grew its holdings in Snowflake by 62.5% in the first quarter. Larson Financial Group LLC now owns 671 shares of the company’s stock valued at $98,000 after purchasing an additional 258 shares during the period. Kingsview Wealth Management LLC increased its position in Snowflake by 13.4% during the first quarter. Kingsview Wealth Management LLC now owns 2,767 shares of the company’s stock worth $404,000 after purchasing an additional 326 shares during the last quarter. Private Advisor Group LLC raised its stake in Snowflake by 7.2% during the first quarter. Private Advisor Group LLC now owns 25,041 shares of the company’s stock worth $3,660,000 after purchasing an additional 1,678 shares during the period. Finally, Kestra Private Wealth Services LLC raised its stake in Snowflake by 38.8% during the first quarter. Kestra Private Wealth Services LLC now owns 7,048 shares of the company’s stock worth $1,030,000 after purchasing an additional 1,969 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Price Performance

SNOW stock opened at $252.92 on Tuesday. 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 Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The firm has a market cap of $85.69 billion, a P/E ratio of -60.94 and a beta of 1.23. The stock has a 50-day simple moving average of $244.58 and a 200-day simple moving average of $219.87.

Snowflake (NYSE:SNOW) last released 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. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company posted $0.18 EPS. Snowflake’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Vivek Raghunathan sold 11,801 shares of the firm’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $224.85, for a total transaction of $11,318,499.30. Following the completion of the transaction, the director owned 35,276 shares in the company, valued at $7,931,808.60. This represents a 58.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 931,388 shares of company stock valued at $216,578,628 over the last ninety days. 6.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SNOW has been the subject of several research reports. Truist Financial boosted their price objective on shares of Snowflake from $235.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. DA Davidson reissued a “buy” rating and set a $250.00 price target on shares of Snowflake in a research report on Monday, August 25th. KeyCorp upped their price target on Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Morgan Stanley lifted their price objective on Snowflake from $262.00 to $272.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Finally, Cantor Fitzgerald boosted their target price on Snowflake from $242.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $262.39.

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.