Snowflake Inc. $SNOW Stock Holdings Lowered by Blair William & Co. IL

Key Points

• Blair William & Co. IL has reduced its holdings in Snowflake Inc. by 44.5%, now owning 27,140 shares valued at approximately $6.07 million as of its latest SEC filing.
• Several institutional investors, including Vanguard Group and Goldman Sachs, have increased their stakes in Snowflake, which is now 65.1% owned by institutional investors.
• In its recent earnings report, Snowflake posted a 31.8% revenue increase year-over-year, achieving $1.14 billion in revenue and earnings per share of $0.35, exceeding analyst expectations.

Blair William & Co. IL lowered its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 44.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 27,140 shares of the company's stock after selling 21,774 shares during the period. Blair William & Co. IL's holdings in Snowflake were worth $6,073,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Snowflake by 1.2% during the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock worth $3,974,705,000 after acquiring an additional 316,573 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake in the second quarter worth about $3,900,134,000. 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 worth $691,693,000 after purchasing an additional 763,673 shares during the period. Nuveen LLC acquired a new stake in Snowflake in the first quarter worth about $555,847,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after purchasing an additional 650,775 shares during the period. Institutional investors own 65.10% of the company's stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $242.52 on Monday. Snowflake Inc. has a twelve month low of $113.23 and a twelve month 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. The company has a market capitalization of $82.17 billion, a price-to-earnings ratio of -58.44 and a beta of 1.21. The firm has a 50-day moving average of $218.64 and a two-hundred day moving average of $199.11.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company earned $0.18 EPS. Snowflake's revenue was up 31.8% on a year-over-year basis. As a group, analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 2,976 shares of the company's stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $236.01, for a total transaction of $702,365.76. Following the completion of the sale, the director directly owned 34,436 shares of the company's stock, valued at approximately $8,127,240.36. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 5,000 shares of the company's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $250.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president directly owned 43,568 shares of the company's stock, valued at $10,892,000. This represents a 10.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,182,434 shares of company stock worth $270,280,661 in the last ninety days. Insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Evercore ISI upped their price objective on shares of Snowflake from $240.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Piper Sandler upped their price objective on shares of Snowflake from $215.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Stifel Nicolaus upped their price objective on shares of Snowflake from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Raymond James Financial upped their price objective on shares of Snowflake from $212.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Finally, Royal Bank Of Canada upped their price objective on shares of Snowflake from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $256.18.

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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