Sunpointe LLC Purchases New Position in Snowflake Inc. $SNOW

Sunpointe LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,050 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in shares of Snowflake during the 1st quarter worth approximately $26,000. CVA Family Office LLC lifted its position in shares of Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after buying an additional 88 shares in the last quarter. Capital A Wealth Management LLC bought a new position in shares of Snowflake during the 4th quarter worth approximately $31,000. Carolinas Wealth Consulting LLC bought a new position in shares of Snowflake during the 4th quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC lifted its position in shares of Snowflake by 748.0% during the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock worth $31,000 after buying an additional 187 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 710,083 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the transaction, the director directly owned 165,507 shares in the company, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 3,224,646 shares of company stock worth $720,005,171. 6.80% of the stock is owned by insiders.

Snowflake Stock Up 0.9%

SNOW opened at $217.97 on Thursday. The company has a fifty day moving average price of $212.61 and a 200-day moving average price of $189.92. The firm has a market capitalization of $73.85 billion, a P/E ratio of -52.52 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. Snowflake Inc. has a one year low of $108.71 and a one year high of $249.99.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. Equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNOW has been the topic of several recent analyst reports. Truist Financial lifted their target price on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. JMP Securities reissued a “market outperform” rating and set a $260.00 target price on shares of Snowflake in a research report on Tuesday, August 26th. Royal Bank Of Canada lifted their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Rosenblatt Securities raised their price target on shares of Snowflake from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Robert W. Baird raised their price target on shares of Snowflake from $215.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.53.

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.