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Snowflake Inc. (NYSE:SNOW) Shares Sold by Westwood Holdings Group Inc.

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Key Points

  • Westwood Holdings Group Inc. has reduced its stake in Snowflake Inc. by 27.7%, now owning 6,058 shares worth $885,000.
  • Snowflake's recent earnings report showed an EPS of $0.24, beating estimates, with revenue of $1.04 billion reflecting a 25.8% increase year-over-year.
  • Multiple analysts have upgraded Snowflake's stock ratings, with UBS increasing the price target from $210 to $265 and maintaining a 'buy' rating.
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Westwood Holdings Group Inc. decreased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 27.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,058 shares of the company's stock after selling 2,316 shares during the quarter. Westwood Holdings Group Inc.'s holdings in Snowflake were worth $885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after acquiring an additional 2,200,406 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Snowflake by 8.2% during the 1st quarter. Baillie Gifford & Co. now owns 2,928,696 shares of the company's stock worth $428,058,000 after acquiring an additional 222,920 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Snowflake by 406.5% during the 4th quarter. Invesco Ltd. now owns 2,441,112 shares of the company's stock worth $376,932,000 after acquiring an additional 1,959,137 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Snowflake by 16.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,253,476 shares of the company's stock worth $347,959,000 after acquiring an additional 317,697 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Snowflake by 18.0% during the 4th quarter. Northern Trust Corp now owns 2,141,468 shares of the company's stock worth $330,664,000 after acquiring an additional 326,104 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Stock Down 7.0%

NYSE:SNOW traded down $14.46 during midday trading on Friday, hitting $191.94. 8,603,458 shares of the company were exchanged, compared to its average volume of 3,533,447. The company has a fifty day simple moving average of $213.98 and a 200 day simple moving average of $183.97. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $229.27. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $64.08 billion, a PE ratio of -45.59 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. Snowflake's revenue for the quarter was up 25.8% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Teresa Briggs sold 1,146 shares of Snowflake stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total value of $249,530.04. Following the sale, the director owned 4,474 shares of the company's stock, valued at $974,168.76. The trade was a 20.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 256,046 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $227.15, for a total transaction of $58,160,848.90. Following the completion of the sale, the director owned 165,507 shares of the company's stock, valued at $37,594,915.05. This trade represents a 60.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,014,642 shares of company stock worth $657,325,186 in the last ninety days. 6.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SNOW shares. Rosenblatt Securities reiterated a "buy" rating and set a $205.00 price target on shares of Snowflake in a research note on Monday, May 19th. Stephens initiated coverage on shares of Snowflake in a research report on Friday, July 18th. They set an "overweight" rating and a $261.00 price objective on the stock. Piper Sandler restated an "overweight" rating and set a $215.00 price objective (up from $175.00) on shares of Snowflake in a research report on Wednesday, May 21st. Scotiabank restated an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Loop Capital raised their price objective on shares of Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $226.73.

View Our Latest Research Report on Snowflake

About Snowflake

(Free Report)

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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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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