Snowflake Inc. $SNOW Shares Sold by Pandora Wealth Inc.

Pandora Wealth Inc. cut its stake in shares of Snowflake Inc. (NYSE:SNOW) by 32.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the company’s stock after selling 800 shares during the quarter. Pandora Wealth Inc.’s holdings in Snowflake were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNOW. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake in the second quarter valued at $3,900,134,000. Nuveen LLC acquired a new stake in Snowflake in the first quarter valued at $555,847,000. AQR Capital Management LLC lifted its holdings in Snowflake by 346.2% in the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after acquiring an additional 2,460,769 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after acquiring an additional 763,673 shares during the period. Finally, Amundi lifted its holdings in Snowflake by 72.7% in the first quarter. Amundi now owns 1,808,250 shares of the company’s stock valued at $252,974,000 after acquiring an additional 760,923 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Down 3.3%

Snowflake stock opened at $242.52 on Monday. The stock has a market cap of $82.17 billion, a PE ratio of -58.44 and a beta of 1.21. The stock has a 50-day moving average price of $218.64 and a 200 day moving average price of $199.11. Snowflake Inc. has a 52 week low of $113.23 and a 52 week high of $255.39. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. Equities research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent analyst reports. Wedbush raised their target price on Snowflake from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Sanford C. Bernstein raised their target price on Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. BTIG Research raised their target price on Snowflake from $235.00 to $276.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Mizuho raised their price target on Snowflake from $235.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Finally, JPMorgan Chase & Co. raised their price target on Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $256.18.

Insider Activity

In related news, Director Frank Slootman sold 7,551 shares of Snowflake stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the completion of the sale, the director owned 153,226 shares in the company, valued at approximately $33,899,720.24. This trade represents a 4.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the sale, the senior vice president owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,182,434 shares of company stock worth $270,280,661 in the last quarter. Corporate 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.