Nisa Investment Advisors LLC Has $567,000 Holdings in Snowflake Inc. $SNOW

Nisa Investment Advisors LLC decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 72.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,535 shares of the company’s stock after selling 6,550 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Snowflake were worth $567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of Snowflake by 22.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock valued at $524,293,000 after purchasing an additional 650,775 shares in the last quarter. CenterBook Partners LP acquired a new position in Snowflake during the 1st quarter worth approximately $2,381,000. Berkshire Capital Holdings Inc. lifted its stake in Snowflake by 71,500.0% in the 1st quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company’s stock valued at $1,047,000 after purchasing an additional 7,150 shares during the last quarter. Lyell Wealth Management LP boosted its position in Snowflake by 5.1% in the first quarter. Lyell Wealth Management LP now owns 60,685 shares of the company’s stock valued at $8,870,000 after buying an additional 2,955 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake in the second quarter valued at approximately $3,900,134,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Monness Crespi & Hardt increased their price target on Snowflake from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Citigroup reaffirmed a “market outperform” rating on shares of Snowflake in a report on Tuesday. 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 note on Thursday, August 28th. Raymond James Financial boosted their price target on Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Snowflake in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $258.95.

Snowflake Price Performance

Snowflake stock opened at $274.81 on Friday. The stock has a market capitalization of $93.11 billion, a price-to-earnings ratio of -66.22 and a beta of 1.21. Snowflake Inc. has a 52-week low of $113.23 and a 52-week high of $275.48. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The stock’s 50 day moving average price is $235.24 and its two-hundred day moving average price is $210.69.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The business 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 quarterly revenue was up 31.8% on a year-over-year basis. During the same period last year, the company posted $0.18 earnings per share. On average, equities analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 2,976 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $236.01, for a total transaction of $702,365.76. Following the completion of the sale, the director owned 34,436 shares in the company, valued at approximately $8,127,240.36. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 5,000 shares of Snowflake stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $250.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president directly owned 43,568 shares in the company, valued at $10,892,000. This represents a 10.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 865,647 shares of company stock worth $199,370,673 over the last ninety days. 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.