Cary Street Partners Investment Advisory LLC Raises Position in Snowflake Inc. (NYSE:SNOW)

Cary Street Partners Investment Advisory LLC grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 1,431.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,302 shares of the company’s stock after buying an additional 1,217 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Snowflake were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SNOW. Cigna Investments Inc. New raised its stake in shares of Snowflake by 1.9% in the second quarter. Cigna Investments Inc. New now owns 3,244 shares of the company’s stock worth $571,000 after purchasing an additional 61 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Snowflake by 0.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,232 shares of the company’s stock valued at $2,505,000 after acquiring an additional 63 shares during the period. Verus Capital Partners LLC boosted its holdings in shares of Snowflake by 1.7% during the 1st quarter. Verus Capital Partners LLC now owns 3,803 shares of the company’s stock valued at $587,000 after acquiring an additional 64 shares during the last quarter. Main Street Financial Solutions LLC grew its stake in shares of Snowflake by 2.9% in the second quarter. Main Street Financial Solutions LLC now owns 2,484 shares of the company’s stock worth $437,000 after acquiring an additional 71 shares during the period. Finally, Edge Capital Group LLC lifted its position in Snowflake by 1.5% during the second quarter. Edge Capital Group LLC now owns 5,098 shares of the company’s stock valued at $897,000 after purchasing an additional 76 shares during the period. Institutional investors own 63.74% of the company’s stock.

Snowflake Trading Up 3.1 %

NYSE:SNOW opened at $166.85 on Tuesday. The business’s 50-day moving average is $154.74 and its 200 day moving average is $163.47. Snowflake Inc. has a 12 month low of $119.27 and a 12 month high of $193.94. The company has a market capitalization of $55.01 billion, a P/E ratio of -62.73 and a beta of 0.77.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 23rd. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.12. Snowflake had a negative return on equity of 14.07% and a negative net margin of 35.22%. The business had revenue of $674.00 million for the quarter, compared to analysts’ expectations of $662.22 million. During the same period in the prior year, the firm earned ($0.67) EPS. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. On average, research analysts forecast that Snowflake Inc. will post -1.62 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In related news, SVP Grzegorz Czajkowski sold 694 shares of Snowflake stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $166.27, for a total value of $115,391.38. Following the completion of the transaction, the senior vice president now owns 54,701 shares in the company, valued at $9,095,135.27. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Snowflake news, CEO Frank Slootman sold 4,308 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $145.67, for a total transaction of $627,546.36. Following the transaction, the chief executive officer now owns 182,913 shares in the company, valued at $26,644,936.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Grzegorz Czajkowski sold 694 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $166.27, for a total transaction of $115,391.38. Following the completion of the sale, the senior vice president now owns 54,701 shares of the company’s stock, valued at approximately $9,095,135.27. The disclosure for this sale can be found here. Insiders sold 92,446 shares of company stock worth $14,733,361 over the last 90 days. 8.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. HSBC started coverage on shares of Snowflake in a research report on Friday, September 15th. They issued a “buy” rating and a $201.00 target price for the company. Capital One Financial raised Snowflake from an “equal weight” rating to an “overweight” rating and set a $195.00 target price on the stock in a report on Wednesday, November 8th. Wedbush restated a “neutral” rating and set a $144.00 price target on shares of Snowflake in a research note on Thursday, August 24th. Barclays lowered their price objective on shares of Snowflake from $190.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, August 24th. Finally, Oppenheimer restated an “outperform” rating and set a $220.00 target price on shares of Snowflake in a research report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $189.52.

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.