Tradewinds Capital Management LLC Decreases Stock Holdings in Snowflake Inc. $SNOW

Tradewinds Capital Management LLC trimmed its position in Snowflake Inc. (NYSE:SNOW) by 34.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160 shares of the company’s stock after selling 85 shares during the quarter. Tradewinds Capital Management LLC’s holdings in Snowflake were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after buying an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Snowflake in the second quarter worth $3,900,134,000. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 763,673 shares during the period. Nuveen LLC purchased a new position in shares of Snowflake in the first quarter worth $555,847,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of 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 buying an additional 650,775 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SNOW shares. Needham & Company LLC boosted their price objective on shares of Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. The Goldman Sachs Group boosted their price objective on shares of Snowflake from $230.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Cowen reissued a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. CICC Research started coverage on shares of Snowflake in a research report on Friday, June 20th. They set an “outperform” rating and a $225.00 price objective on the stock. Finally, DA Davidson reissued a “buy” rating and set a $250.00 price objective on shares of Snowflake in a research report on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $256.71.

Insider Transactions at Snowflake

In related 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 value of $702,365.76. Following the transaction, the director owned 34,436 shares in the company, valued at $8,127,240.36. The trade was a 7.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president owned 241,854 shares in the company, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,182,434 shares of company stock worth $270,280,661. 6.80% of the stock is owned by insiders.

Snowflake Stock Up 0.3%

NYSE:SNOW opened at $240.68 on Friday. The firm’s 50-day moving average price is $222.38 and its 200-day moving average price is $201.63. The company has a market capitalization of $81.54 billion, a PE ratio of -58.00 and a beta of 1.21. 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 Inc. has a 1-year low of $113.23 and a 1-year high of $255.39.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. On average, equities analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

About Snowflake

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.