Silver Oak Securities Incorporated Has $337,000 Position in Snowflake Inc. $SNOW

Key Points

• Silver Oak Securities Incorporated has reduced its stake in Snowflake Inc. by 68.2%, owning 1,505 shares valued at approximately $337,000 as of the latest SEC filing.
• Notable institutional investors have recently increased their positions in Snowflake, including Kingstone Capital Partners with a new acquisition valued at about $3.9 billion.
• Snowflake's stock received positive ratings from several analysts, with target price increases from KeyCorp and Cantor Fitzgerald, both raising their targets to $275.00.

Silver Oak Securities Incorporated reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 68.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,505 shares of the company's stock after selling 3,225 shares during the period. Silver Oak Securities Incorporated's holdings in Snowflake were worth $337,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Kingstone Capital Partners Texas LLC acquired a new position in Snowflake in the second quarter valued at about $3,900,134,000. Nuveen LLC acquired a new position in Snowflake in the first quarter valued at about $555,847,000. AQR Capital Management LLC boosted its position 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 buying an additional 2,460,769 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 buying an additional 763,673 shares in the last quarter. Finally, Amundi boosted its position 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 buying an additional 760,923 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research report on Thursday, August 28th. KeyCorp upped their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Cantor Fitzgerald upped their target price on shares of Snowflake from $242.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Bank of America upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and upped their target price for the stock from $220.00 to $240.00 in a research report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Snowflake from $225.00 to $255.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $255.53.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 710,083 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at $38,144,398.29. This represents a 81.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 3,201,381 shares of company stock valued at $714,896,508 in the last ninety days. 6.80% of the stock is owned by corporate insiders.

Snowflake Stock Down 0.5%

Snowflake stock opened at $229.41 on Tuesday. The stock has a market capitalization of $77.72 billion, a PE ratio of -55.28 and a beta of 1.22. Snowflake Inc. has a twelve month low of $108.71 and a twelve month high of $249.99. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average of $213.48 and a 200-day moving average of $191.47.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. The company 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, equities research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal 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.

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