Arkfeld Wealth Strategies L.L.C. Trims Position in Snowflake Inc. (NYSE:SNOW)

Arkfeld Wealth Strategies L.L.C. trimmed its position in Snowflake Inc. (NYSE:SNOW) by 17.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,363 shares of the company’s stock after selling 896 shares during the quarter. Arkfeld Wealth Strategies L.L.C.’s holdings in Snowflake were worth $501,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Swedbank AB bought a new stake in shares of Snowflake during the 1st quarter worth $258,957,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Snowflake in the 1st quarter valued at $171,608,000. AQR Capital Management LLC grew its holdings in shares of Snowflake by 210.0% during the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after purchasing an additional 660,168 shares during the last quarter. SG Americas Securities LLC raised its position in Snowflake by 471.9% in the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after purchasing an additional 628,511 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Snowflake by 90.3% in the second quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after purchasing an additional 600,469 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNOW. Citigroup reduced their price objective on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Loop Capital reduced their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Stifel Nicolaus lowered their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Morgan Stanley restated an “equal weight” rating and issued a $175.00 target price on shares of Snowflake in a report on Thursday, August 22nd. Finally, UBS Group lowered their price target on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.74.

Insider Transactions at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,049,994 over the last quarter. 7.80% of the stock is currently owned by company insiders.

Snowflake Trading Up 0.4 %

NYSE SNOW traded up $0.52 during trading hours on Tuesday, hitting $123.68. 1,348,788 shares of the company’s stock traded hands, compared to its average volume of 6,683,399. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a market capitalization of $41.41 billion, a P/E ratio of -43.98 and a beta of 0.83. The business’s fifty day moving average price is $116.56 and its two-hundred day moving average price is $134.08.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. Snowflake’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.52) EPS. On average, sell-side analysts expect that Snowflake Inc. will post -2.41 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.