Snowflake Inc. (NYSE:SNOW) Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 2.9% in the second quarter, Holdings Channel.com reports. The firm owned 88,263 shares of the company’s stock after selling 2,606 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Snowflake were worth $11,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNOW. Accent Capital Management LLC acquired a new position in shares of Snowflake in the 4th quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in shares of Snowflake in the first quarter worth $29,000. Riverview Trust Co acquired a new stake in Snowflake in the first quarter valued at $31,000. Future Financial Wealth Managment LLC bought a new position in Snowflake during the 1st quarter valued at $32,000. Finally, Wellington Shields Capital Management LLC acquired a new position in Snowflake during the 2nd quarter worth $27,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $2,144,700.00. Following the transaction, the executive vice president now directly owns 733,773 shares of the company’s stock, valued at approximately $104,914,863.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Snowflake news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares of the company’s stock, valued at $5,932,582.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $2,144,700.00. Following the transaction, the executive vice president now directly owns 733,773 shares in the company, valued at approximately $104,914,863.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,386 shares of company stock valued at $5,715,941. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $110.23 on Wednesday. The company has a market capitalization of $36.95 billion, a price-to-earnings ratio of -39.37 and a beta of 0.83. The business’s 50-day moving average is $118.10 and its 200-day moving average is $136.75. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same quarter in the prior year, the business earned ($0.52) EPS. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. Equities research analysts expect that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SNOW shares. Barclays cut their target price on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. JMP Securities reduced their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. Bank of America lowered their price target on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Royal Bank of Canada dropped their price target on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. Finally, Canaccord Genuity Group decreased their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two 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 has a consensus rating of “Moderate Buy” and a consensus target price of $175.17.

Snowflake Company Profile

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.