SWS Partners Acquires 5,248 Shares of Snowflake Inc. $SNOW

SWS Partners lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 25.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,931 shares of the company’s stock after acquiring an additional 5,248 shares during the period. Snowflake makes up approximately 1.6% of SWS Partners’ portfolio, making the stock its 13th biggest position. SWS Partners’ holdings in Snowflake were worth $5,803,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new stake in Snowflake in the 1st quarter valued at about $26,000. CVA Family Office LLC increased its position in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after buying an additional 88 shares in the last quarter. Golden State Wealth Management LLC increased its position in Snowflake by 748.0% in the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock valued at $31,000 after buying an additional 187 shares in the last quarter. Tradewinds Capital Management LLC increased its position in Snowflake by 53.1% in the 1st quarter. Tradewinds Capital Management LLC now owns 245 shares of the company’s stock valued at $36,000 after buying an additional 85 shares in the last quarter. Finally, CX Institutional bought a new stake in Snowflake in the 1st quarter valued at about $42,000. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $221.47, for a total value of $11,148,356.86. Following the transaction, the director owned 36,956 shares in the company, valued at $8,184,645.32. The trade was a 57.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 710,083 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 165,507 shares in the company, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,251,864 shares of company stock worth $504,714,102 in the last 90 days. Company insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Canaccord Genuity Group boosted their target price on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. UBS Group boosted their target price on Snowflake from $250.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Wedbush boosted their target price on Snowflake from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Scotiabank boosted their target price on Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Finally, Oppenheimer lifted their price target on Snowflake from $250.00 to $275.00 and gave the company 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 assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $255.53.

Snowflake Price Performance

SNOW stock opened at $224.64 on Monday. The company has a market capitalization of $76.11 billion, a P/E 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 52-week low of $108.71 and a 52-week high of $249.99. The business has a 50-day simple moving average of $214.29 and a two-hundred day simple moving average of $193.53.

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

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.