Wealth Architects LLC Sells 2,870 Shares of Snowflake Inc. $SNOW

Wealth Architects LLC trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 24.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,818 shares of the company’s stock after selling 2,870 shares during the quarter. Wealth Architects LLC’s holdings in Snowflake were worth $1,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its stake in Snowflake by 59.0% in the second quarter. Sequoia Financial Advisors LLC now owns 27,905 shares of the company’s stock valued at $6,244,000 after purchasing an additional 10,359 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new stake in Snowflake in the second quarter worth $328,000. Vest Financial LLC bought a new stake in shares of Snowflake in the second quarter valued at $214,000. MGO One Seven LLC lifted its position in shares of Snowflake by 14.9% during the 2nd quarter. MGO One Seven LLC now owns 2,797 shares of the company’s stock valued at $626,000 after buying an additional 362 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Snowflake during the 2nd quarter valued at $271,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,658 shares of Snowflake stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $225.25, for a total transaction of $373,464.50. Following the completion of the sale, the chief accounting officer directly owned 31,745 shares in the company, valued at $7,150,561.25. The trade was a 4.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 7,551 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the completion of the transaction, the director directly owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. This represents a 4.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,182,434 shares of company stock worth $270,280,661. Company insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNOW. Cantor Fitzgerald boosted their price objective on Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. The Goldman Sachs Group lifted their target price on shares of Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Cowen reissued a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Stifel Nicolaus raised 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. Finally, Sanford C. Bernstein increased their target price on Snowflake from $191.00 to $221.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.18.

Snowflake Stock Down 3.3%

SNOW opened at $242.52 on Monday. The firm has a market capitalization of $82.17 billion, a P/E ratio of -58.44 and a beta of 1.21. Snowflake Inc. has a one year low of $113.23 and a one year high of $255.39. The company has a fifty day moving average price of $218.64 and a 200-day moving average price of $199.11. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the business posted $0.18 earnings per share. The firm’s revenue was up 31.8% compared to the same quarter last year. Equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Snowflake 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.