Parkside Financial Bank & Trust Sells 391 Shares of Snowflake Inc. $SNOW

Parkside Financial Bank & Trust lowered its position in shares of Snowflake Inc. (NYSE:SNOW) by 59.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 269 shares of the company’s stock after selling 391 shares during the period. Parkside Financial Bank & Trust’s holdings in Snowflake were worth $60,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNOW. Kingstone Capital Partners Texas LLC bought a new position in Snowflake in the 2nd quarter valued at $3,900,134,000. Nuveen LLC purchased a new stake in shares of Snowflake in the first quarter worth $555,847,000. AQR Capital Management LLC boosted its stake in Snowflake by 346.2% during 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 during the period. Jennison Associates LLC grew its position in Snowflake by 20.5% during the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after buying an additional 1,363,389 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after acquiring an additional 763,673 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SNOW shares. Monness Crespi & Hardt lifted their price target on Snowflake from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Stephens began coverage on shares of Snowflake in a research report on Friday, July 18th. They set an “overweight” rating and a $261.00 target price for the company. Evercore ISI increased their price target on shares of Snowflake from $240.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Royal Bank Of Canada raised their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Finally, The Goldman Sachs Group upped their target price on shares of Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Two equities 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 assigned a Sell rating to the stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $258.95.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $271.16 on Wednesday. The stock has a market cap of $91.87 billion, a PE ratio of -65.34 and a beta of 1.23. The company’s fifty day moving average is $241.91 and its 200 day moving average is $217.11. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96.

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

Insider Buying and Selling

In related news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. This trade represents a 4.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $224.85, for a total value of $11,318,499.30. Following the completion of the sale, the director owned 35,276 shares of the company’s stock, valued at $7,931,808.60. The trade was a 58.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 931,388 shares of company stock valued at $216,578,628 in the last 90 days. 6.80% of the stock is owned by insiders.

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.