Snowflake Inc. (NYSE:SNOW) Shares Sold by Parkwood LLC

Parkwood LLC decreased its position in Snowflake Inc. (NYSE:SNOWGet Rating) by 68.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,720 shares of the company’s stock after selling 5,923 shares during the quarter. Parkwood LLC’s holdings in Snowflake were worth $921,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SNOW. Moors & Cabot Inc. acquired a new stake in Snowflake in the third quarter valued at approximately $31,000. PrairieView Partners LLC raised its holdings in Snowflake by 66.7% during the fourth quarter. PrairieView Partners LLC now owns 100 shares of the company’s stock worth $34,000 after purchasing an additional 40 shares in the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new stake in Snowflake during the fourth quarter worth approximately $34,000. PSI Advisors LLC acquired a new stake in Snowflake during the third quarter worth approximately $35,000. Finally, BerganKDV Wealth Management LLC raised its holdings in Snowflake by 123.4% during the fourth quarter. BerganKDV Wealth Management LLC now owns 105 shares of the company’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. 76.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SNOW traded up $1.30 during midday trading on Tuesday, reaching $145.81. 7,490,007 shares of the company were exchanged, compared to its average volume of 5,802,438. The stock has a 50-day moving average price of $193.48 and a 200-day moving average price of $272.70. The company has a market cap of $45.87 billion, a price-to-earnings ratio of -63.95 and a beta of 1.80. Snowflake Inc. has a 1-year low of $126.01 and a 1-year high of $405.00.

Snowflake (NYSE:SNOWGet Rating) last announced its earnings results on Wednesday, March 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. The business had revenue of $383.77 million for the quarter, compared to analyst estimates of $371.89 million. Snowflake had a negative return on equity of 13.45% and a negative net margin of 55.76%. During the same period in the previous year, the company earned ($0.70) earnings per share. Analysts anticipate that Snowflake Inc. will post -1.6 EPS for the current year.

In other news, Director Michael L. Speiser sold 750,000 shares of the business’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $222.18, for a total transaction of $166,635,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 11.30% of the company’s stock.

A number of analysts have weighed in on SNOW shares. Barclays cut their price objective on shares of Snowflake from $367.00 to $313.00 and set an “overweight” rating on the stock in a report on Thursday, March 3rd. William Blair raised shares of Snowflake from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 18th. Evercore ISI cut their target price on shares of Snowflake from $400.00 to $344.00 in a report on Thursday, March 3rd. Mizuho cut their target price on shares of Snowflake from $410.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, March 3rd. Finally, StockNews.com assumed coverage on shares of Snowflake in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $303.89.

About Snowflake (Get Rating)

Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

Further Reading

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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