Pandora Wealth Inc. Lowers Holdings in Snowflake Inc. $SNOW

Pandora Wealth Inc. decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 32.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,700 shares of the company’s stock after selling 800 shares during the period. Pandora Wealth Inc.’s holdings in Snowflake were worth $380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Kingstone Capital Partners Texas LLC purchased a new stake in Snowflake in the 2nd quarter valued at about $3,900,134,000. Nuveen LLC purchased a new stake in Snowflake in the 1st quarter valued at about $555,847,000. AQR Capital Management LLC grew its holdings in Snowflake by 346.2% in the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after buying an additional 2,460,769 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after buying an additional 763,673 shares during the period. Finally, Amundi grew its holdings in Snowflake by 72.7% in the 1st quarter. Amundi now owns 1,808,250 shares of the company’s stock valued at $252,974,000 after buying an additional 760,923 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Snowflake stock opened at $242.52 on Monday. The stock’s 50 day moving average price is $218.64 and its 200 day moving average price is $199.11. The firm has a market capitalization of $82.17 billion, a PE ratio of -58.44 and a beta of 1.21. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. Snowflake Inc. has a one year low of $113.23 and a one year high of $255.39.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.Snowflake’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. As a group, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president directly owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total value of $2,335,000.00. Following the transaction, the executive vice president directly owned 527,336 shares in the company, valued at $123,132,956. This trade represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,182,434 shares of company stock valued at $270,280,661. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNOW. UBS Group lifted their price objective on Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday. Truist Financial lifted their price objective on Snowflake from $235.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Wedbush lifted their price objective on Snowflake from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Needham & Company LLC lifted their price objective on Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Finally, Wells Fargo & Company began coverage on Snowflake in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $275.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $256.18.

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.