SkyOak Wealth LLC Raises Holdings in Snowflake Inc. (NYSE:SNOW)

SkyOak Wealth LLC lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 30.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,255 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. SkyOak Wealth LLC’s holdings in Snowflake were worth $575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Elo Mutual Pension Insurance Co grew its holdings in shares of Snowflake by 7.9% in the second quarter. Elo Mutual Pension Insurance Co now owns 27,599 shares of the company’s stock worth $3,728,000 after acquiring an additional 2,024 shares during the period. Blair William & Co. IL boosted its holdings in shares of Snowflake by 2.3% in the second quarter. Blair William & Co. IL now owns 39,095 shares of the company’s stock worth $5,281,000 after buying an additional 889 shares during the last quarter. Elkhorn Partners Limited Partnership increased its holdings in Snowflake by 228.6% during the second quarter. Elkhorn Partners Limited Partnership now owns 4,600 shares of the company’s stock valued at $621,000 after buying an additional 3,200 shares during the last quarter. Amalgamated Bank raised its position in Snowflake by 1.1% in the second quarter. Amalgamated Bank now owns 21,368 shares of the company’s stock worth $2,887,000 after acquiring an additional 241 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Snowflake by 3.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,865 shares of the company’s stock worth $792,000 after acquiring an additional 180 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Down 1.1 %

Shares of Snowflake stock opened at $111.62 on Wednesday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The firm’s 50 day moving average price is $122.40 and its 200-day moving average price is $140.42. The company has a market cap of $37.42 billion, a P/E ratio of -39.86 and a beta of 0.83.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same quarter in the prior year, the business posted ($0.52) EPS. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, equities research analysts forecast that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the transaction, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Snowflake news, insider Benoit Dageville sold 1,295 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.19, for a total value of $162,121.05. Following the sale, the insider now directly owns 58,791 shares of the company’s stock, valued at $7,360,045.29. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Emily Ho sold 3,845 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the transaction, the chief accounting officer now directly owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. Insiders sold 512,262 shares of company stock valued at $63,340,261 in the last three months. 7.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNOW. Bank of America lowered their target price on Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Royal Bank of Canada reduced their target price on shares of Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Macquarie lowered their price target on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. Finally, UBS Group lowered their target price on shares of Snowflake from $171.00 to $155.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $176.03.

Snowflake 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.