Nwam LLC Sells 7,384 Shares of Snowflake Inc. $SNOW

Key Points

• Nwam LLC slashed its Snowflake stake by 87.4% in the fourth quarter, selling 7,384 shares and ending with 1,068 shares worth about $226,000.
• Insider selling has also been notable, including director Michael L. Speiser selling 50,338 shares and SVP Vivek Raghunathan selling 3,876 shares; insiders have sold 384,313 shares worth about $64.3 million over the last 90 days.
• Snowflake recently beat quarterly earnings expectations with EPS of $0.32 versus $0.27 expected and revenue of $1.28 billion, while analysts still broadly rate the stock a Moderate Buy with an average price target of $242.19.

Nwam LLC lessened its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 87.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,068 shares of the company's stock after selling 7,384 shares during the quarter. Nwam LLC's holdings in Snowflake were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisor OS LLC grew its stake in shares of Snowflake by 3.2% during the fourth quarter. Advisor OS LLC now owns 2,387 shares of the company's stock valued at $524,000 after buying an additional 74 shares during the last quarter. LRI Investments LLC boosted its position in Snowflake by 4.5% during the 4th quarter. LRI Investments LLC now owns 1,437 shares of the company's stock valued at $315,000 after acquiring an additional 62 shares in the last quarter. NewEdge Wealth LLC lifted its holdings in shares of Snowflake by 12.1% during the fourth quarter. NewEdge Wealth LLC now owns 12,435 shares of the company's stock valued at $2,728,000 after purchasing an additional 1,343 shares during the last quarter. Washington Trust Advisors Inc. lifted its holdings in shares of Snowflake by 2.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 57,899 shares of the company's stock valued at $12,701,000 after purchasing an additional 1,138 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in shares of Snowflake by 16.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 2,855 shares of the company's stock valued at $626,000 after acquiring an additional 405 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Activity at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the company's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $175.19, for a total value of $8,818,714.22. Following the completion of the sale, the director owned 30,236 shares of the company's stock, valued at approximately $5,297,044.84. This represents a 62.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vivek Raghunathan sold 3,876 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $152.80, for a total transaction of $592,252.80. Following the completion of the sale, the senior vice president directly owned 273,323 shares of the company's stock, valued at $41,763,754.40. The trade was a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 384,313 shares of company stock valued at $64,308,373 over the last 90 days. 6.80% of the stock is currently owned by insiders.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $152.10 on Wednesday. The company has a market capitalization of $52.58 billion, a price-to-earnings ratio of -38.51 and a beta of 1.08. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $280.67. The firm's 50-day moving average is $155.89 and its 200 day moving average is $198.48. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The firm's revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. Research analysts predict that Snowflake Inc. will post -2.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Mizuho cut their target price on shares of Snowflake from $285.00 to $220.00 and set an "outperform" rating for the company in a research report on Tuesday, February 17th. Rosenblatt Securities restated a "buy" rating and issued a $275.00 price target on shares of Snowflake in a research report on Thursday, February 26th. Evercore set a $200.00 price target on Snowflake in a research report on Tuesday, April 14th. Needham & Company LLC lowered their target price on shares of Snowflake from $280.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Finally, UBS Group lowered their target price on shares of Snowflake from $235.00 to $210.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $242.19.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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