Snowflake Inc. (NYSE:SNOW) Shares Sold by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 28.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,727 shares of the company’s stock after selling 1,517 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Snowflake were worth $742,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SNOW. Vanguard Group Inc. raised its stake in shares of Snowflake by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock valued at $2,968,152,000 after acquiring an additional 743,211 shares during the period. FMR LLC increased its position in shares of Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after purchasing an additional 1,496,235 shares during the last quarter. Norges Bank bought a new stake in shares of Snowflake in the 4th quarter worth about $838,455,000. Northern Trust Corp increased its position in shares of Snowflake by 5.4% in the 3rd quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock worth $287,556,000 after purchasing an additional 95,814 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Snowflake by 69.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock valued at $231,481,000 after buying an additional 623,277 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In related news, CEO Sridhar Ramaswamy acquired 31,542 shares of the stock in a transaction on Monday, March 25th. The stock was purchased at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the transaction, the chief executive officer now owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other Snowflake news, CEO Sridhar Ramaswamy bought 31,542 shares of Snowflake stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Emily Ho sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the completion of the transaction, the chief accounting officer now directly owns 28,393 shares in the company, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several recent analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $230.00 target price on shares of Snowflake in a research report on Thursday, February 29th. Oppenheimer restated an “outperform” rating and issued a $220.00 price target on shares of Snowflake in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $235.00 price objective on shares of Snowflake in a research note on Friday, May 17th. Guggenheim upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Finally, Sanford C. Bernstein upped their price objective on shares of Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.06.

Snowflake Trading Down 3.6 %

Shares of Snowflake stock traded down $5.85 during mid-day trading on Thursday, reaching $157.49. 13,053,380 shares of the stock were exchanged, compared to its average volume of 6,104,889. The company has a market cap of $52.63 billion, a price-to-earnings ratio of -62.09 and a beta of 0.90. The firm has a 50-day simple moving average of $157.13 and a 200 day simple moving average of $180.26. Snowflake Inc. has a fifty-two week low of $138.40 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, research analysts predict that Snowflake Inc. will post -1.83 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.