Coastline Trust Co Sells 1,146 Shares of Snowflake Inc. (NYSE:SNOW)

Coastline Trust Co reduced its stake in Snowflake Inc. (NYSE:SNOW) by 50.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,126 shares of the company’s stock after selling 1,146 shares during the quarter. Coastline Trust Co’s holdings in Snowflake were worth $129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. LRI Investments LLC acquired a new stake in shares of Snowflake in the first quarter valued at approximately $29,000. Wellington Shields Capital Management LLC bought a new stake in Snowflake during the 2nd quarter worth about $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the 3rd quarter worth about $30,000. Global Financial Private Client LLC bought a new position in shares of Snowflake in the 1st quarter valued at about $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake in the second quarter valued at about $39,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SNOW shares. Needham & Company LLC decreased their price target on Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Evercore ISI lowered their target price on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Canaccord Genuity Group cut their price target on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley restated an “equal weight” rating and set a $175.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. Finally, Scotiabank cut their target price on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $172.09.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,061,544 in the last ninety days. 7.80% of the stock is currently owned by insiders.

Snowflake Trading Down 2.6 %

Shares of SNOW opened at $125.96 on Friday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The stock has a fifty day moving average of $116.73 and a 200-day moving average of $128.50.

Snowflake (NYSE:SNOW) last posted its earnings results 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 the consensus estimate of $851.72 million. During the same period last year, the company earned ($0.52) earnings per share. The business’s quarterly revenue was up 28.9% on a year-over-year basis. Sell-side analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

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.