Swedbank AB Has $144.64 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Swedbank AB lessened its stake in Snowflake Inc. (NYSE:SNOW) by 10.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,259,293 shares of the company’s stock after selling 143,185 shares during the quarter. Swedbank AB owned 0.38% of Snowflake worth $144,642,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC increased its stake in Snowflake by 0.5% in the 1st quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock valued at $2,179,000 after buying an additional 70 shares during the period. Covestor Ltd grew its position in Snowflake by 25.0% in the first quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after acquiring an additional 70 shares in the last quarter. IAM Advisory LLC grew its position in Snowflake by 2.0% in the first quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after acquiring an additional 74 shares in the last quarter. Joseph P. Lucia & Associates LLC grew its position in Snowflake by 2.6% in the first quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock worth $478,000 after acquiring an additional 75 shares in the last quarter. Finally, Modus Advisors LLC grew its position in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,538 shares of company stock worth $7,049,994. Company insiders own 7.80% of the company’s stock.

Snowflake Stock Up 0.0 %

Snowflake stock traded up $0.02 during midday trading on Tuesday, hitting $123.18. 2,437,932 shares of the stock were exchanged, compared to its average volume of 6,688,872. The stock has a market capitalization of $41.24 billion, a PE ratio of -43.98 and a beta of 0.83. The company has a fifty day simple moving average of $116.56 and a two-hundred day simple moving average of $134.08. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the company posted ($0.52) EPS. As a group, equities research analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Scotiabank decreased their price objective on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. Argus started coverage on shares of Snowflake in a report on Tuesday, October 1st. They set a “hold” rating for the company. Finally, Robert W. Baird cut their target price on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $174.74.

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.