Sanibel Captiva Trust Company Inc. Has $1.75 Million Position in Snowflake Inc. (NYSE:SNOW)

Sanibel Captiva Trust Company Inc. lowered its stake in Snowflake Inc. (NYSE:SNOW) by 12.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,274 shares of the company’s stock after selling 2,159 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Snowflake were worth $1,754,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Snowflake by 1.4% in the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after purchasing an additional 297,428 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Snowflake by 3.7% in the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after purchasing an additional 249,249 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Snowflake by 11.5% in the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after purchasing an additional 223,936 shares in the last quarter. Swedbank AB acquired a new stake in shares of Snowflake in the first quarter valued at approximately $258,957,000. Finally, Bank of New York Mellon Corp grew its holdings in Snowflake by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after acquiring an additional 8,743 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Loop Capital lowered their target price on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a report on Wednesday, October 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a report on Thursday, August 22nd. Robert W. Baird lowered their target price on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Finally, TD Cowen decreased their price target on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.74.

Snowflake Stock Performance

Shares of SNOW opened at $123.73 on Friday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a market cap of $41.47 billion, a P/E ratio of -40.43 and a beta of 0.83. The firm’s 50-day simple moving average is $116.27 and its 200 day simple moving average is $134.93.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates 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 business 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. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. As a group, equities analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current year.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the transaction, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,538 shares of company stock worth $3,449,994 in the last quarter. Corporate insiders own 7.80% of the company’s stock.

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.