Snowflake Inc. $SNOW Stock Position Cut by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. decreased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 16.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,466 shares of the company’s stock after selling 37,571 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Snowflake were worth $42,173,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Trust Co. of Toledo NA OH acquired a new position in shares of Snowflake during the second quarter valued at approximately $25,000. Avion Wealth lifted its position in Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the period. Rossby Financial LCC boosted its stake in Snowflake by 4,233.3% during the 2nd 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. increased its position in shares of Snowflake by 149.1% during the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in shares of 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 buying an additional 121 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the sale, the director directly owned 165,507 shares of the company’s stock, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total value of $2,335,000.00. Following the completion of the sale, the executive vice president owned 527,336 shares of the company’s stock, valued at $123,132,956. The trade was a 1.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 931,388 shares of company stock valued at $216,578,628. 6.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Raymond James Financial raised their target price on Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. KeyCorp upped their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. The Goldman Sachs Group raised their price objective on shares of Snowflake from $230.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Bank of America lifted their price objective on shares of Snowflake from $280.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday. Finally, DA Davidson restated a “buy” rating and set a $250.00 target price on shares of Snowflake in a report on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $262.39.

Snowflake Price Performance

SNOW stock opened at $252.92 on Tuesday. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67. The firm has a 50-day moving average of $244.58 and a two-hundred day moving average of $219.87. The firm has a market capitalization of $85.69 billion, a PE ratio of -60.94 and a beta of 1.23. 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 released its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Snowflake Company 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.