Bangor Savings Bank Sells 144 Shares of Snowflake Inc. (NYSE:SNOW)

Bangor Savings Bank decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 19.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 603 shares of the company’s stock after selling 144 shares during the period. Bangor Savings Bank’s holdings in Snowflake were worth $88,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Quarry LP grew its stake in shares of Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after buying an additional 59 shares during the last quarter. Gabelli Funds LLC grew its stake in Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after purchasing an additional 65 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after purchasing an additional 69 shares in the last quarter. Larson Financial Group LLC grew its stake in Snowflake by 21.8% in the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock worth $64,000 after purchasing an additional 74 shares in the last quarter. Finally, Landscape Capital Management L.L.C. grew its stake in Snowflake by 3.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 2,627 shares of the company’s stock worth $406,000 after purchasing an additional 77 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the topic of several research analyst reports. Canaccord Genuity Group increased their price objective on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus increased their price objective on Snowflake from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. JMP Securities reissued a “market outperform” rating and issued a $245.00 price objective on shares of Snowflake in a research note on Wednesday, June 4th. Hsbc Global Res cut Snowflake from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. Finally, Truist Financial increased their target price on Snowflake from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $221.97.

Snowflake Stock Performance

Shares of SNOW stock opened at $210.78 on Monday. The firm has a market capitalization of $70.37 billion, a price-to-earnings ratio of -62.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business has a fifty day moving average of $169.37 and a 200 day moving average of $169.42. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $214.83.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. As a group, research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This trade represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $205.67, for a total value of $2,056,700.00. Following the completion of the transaction, the executive vice president now owns 570,632 shares of the company’s stock, valued at $117,361,883.44. This trade represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 849,779 shares of company stock worth $159,318,643 in the last 90 days. 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.