Snowflake Inc. $SNOW Shares Sold by OMC Financial Services LTD

OMC Financial Services LTD lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 17,547 shares of the company’s stock after selling 526 shares during the quarter. Snowflake comprises 1.6% of OMC Financial Services LTD’s portfolio, making the stock its 17th biggest holding. OMC Financial Services LTD’s holdings in Snowflake were worth $3,926,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Capital Advantage Inc. boosted its stake in shares of Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after acquiring an additional 48 shares during the last quarter. Ignite Planners LLC grew its holdings in Snowflake by 2.3% in the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock valued at $418,000 after buying an additional 64 shares during the period. Koshinski Asset Management Inc. grew its holdings in Snowflake by 4.2% in the 2nd quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock valued at $359,000 after buying an additional 64 shares during the period. Archford Capital Strategies LLC grew its holdings in Snowflake by 1.9% in the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock valued at $527,000 after buying an additional 68 shares during the period. Finally, TD Private Client Wealth LLC grew its holdings in Snowflake by 8.9% in the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock valued at $122,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Snowflake in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $275.00 price objective on the stock. Barclays lifted their price objective on Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Snowflake in a research note on Wednesday, October 8th. Sanford C. Bernstein boosted their price target on Snowflake from $191.00 to $221.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Finally, Royal Bank Of Canada boosted their price target on Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $257.24.

Snowflake Price Performance

Shares of NYSE SNOW opened at $247.52 on Wednesday. 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 $83.86 billion, a price-to-earnings ratio of -59.64 and a beta of 1.21. The business has a 50 day simple moving average of $224.55 and a 200-day simple moving average of $203.51.

Snowflake (NYSE:SNOW) 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 return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.18 EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $250.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the executive vice president directly owned 43,568 shares in the company, valued at $10,892,000. This represents a 10.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 7,551 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total value of $1,670,583.24. Following the transaction, the director owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. The trade was a 4.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,182,434 shares of company stock worth $270,280,661. Corporate insiders own 6.80% of the company’s stock.

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.