1,395 Shares in Snowflake Inc. $SNOW Bought by Symmetry Partners LLC

Symmetry Partners LLC purchased a new position in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 1,395 shares of the company’s stock, valued at approximately $312,000.

Other hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Snowflake in the first quarter worth $26,000. CVA Family Office LLC lifted its stake in Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Snowflake by 748.0% in the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock worth $31,000 after purchasing an additional 187 shares during the last quarter. Tradewinds Capital Management LLC lifted its stake in Snowflake by 53.1% in the first quarter. Tradewinds Capital Management LLC now owns 245 shares of the company’s stock worth $36,000 after purchasing an additional 85 shares during the last quarter. Finally, CX Institutional bought a new stake in Snowflake in the first quarter worth $42,000. 65.10% of the stock is owned by institutional investors.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $230.47, for a total value of $163,652,829.01. Following the transaction, the director owned 165,507 shares of the company’s stock, valued at approximately $38,144,398.29. This represents a 81.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction on Monday, July 7th. The stock was sold at an average price of $221.47, for a total transaction of $11,148,356.86. Following the transaction, the director owned 36,956 shares in the company, valued at $8,184,645.32. This represents a 57.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,469,296 shares of company stock worth $553,371,035. 6.80% of the stock is owned by corporate insiders.

Snowflake Price Performance

Shares of SNOW opened at $224.64 on Friday. The stock has a market cap of $76.11 billion, a PE ratio of -54.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. Snowflake Inc. has a fifty-two week low of $108.71 and a fifty-two week high of $249.99. The firm’s 50-day simple moving average is $214.29 and its two-hundred day simple moving average is $193.22.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. Analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Sanford C. Bernstein upped their price objective on shares of Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a research note on Thursday, August 28th. Macquarie upped their price objective on shares of Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. JMP Securities reaffirmed a “market outperform” rating and set a $260.00 price objective on shares of Snowflake in a research note on Tuesday, August 26th. CICC Research assumed coverage on shares of Snowflake in a research note on Friday, June 20th. They set an “outperform” rating and a $225.00 price objective for the company. Finally, Scotiabank upped their price objective on shares of Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.53.

About Snowflake

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.