Chicago Capital LLC Purchases 2,372 Shares of Snowflake Inc. $SNOW

Chicago Capital LLC grew its position in Snowflake Inc. (NYSE:SNOW) by 32.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,631 shares of the company’s stock after purchasing an additional 2,372 shares during the quarter. Chicago Capital LLC’s holdings in Snowflake were worth $2,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake during the 1st quarter valued at $26,000. CVA Family Office LLC raised its holdings in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares during the period. Golden State Wealth Management LLC raised its holdings in Snowflake by 748.0% during the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock valued at $31,000 after acquiring an additional 187 shares during the period. Tradewinds Capital Management LLC lifted its position in shares of Snowflake by 53.1% in the first quarter. Tradewinds Capital Management LLC now owns 245 shares of the company’s stock valued at $36,000 after acquiring an additional 85 shares in the last quarter. Finally, CX Institutional bought a new position in shares of Snowflake in the first quarter worth about $42,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Up 0.2%

Shares of NYSE:SNOW opened at $225.60 on Wednesday. The company has a market cap of $76.43 billion, a price-to-earnings ratio of -54.36 and a beta of 1.22. Snowflake Inc. has a 12 month low of $108.71 and a 12 month high of $249.99. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $214.75 and a 200 day moving average price of $194.23.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data 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. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, equities research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Emily Ho sold 1,658 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $225.25, for a total value of $373,464.50. Following the sale, the chief accounting officer owned 31,745 shares of the company’s stock, valued at approximately $7,150,561.25. This represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 7,551 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the completion of the sale, the director owned 153,226 shares of the company’s stock, valued at $33,899,720.24. This trade represents a 4.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,759,924 shares of company stock valued at $397,943,442 in the last three months. Corporate insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Citigroup reiterated an “outperform” rating on shares of Snowflake in a research report on Thursday, August 28th. Raymond James Financial upped their target price on shares of Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. JMP Securities reiterated a “market outperform” rating and issued a $260.00 price target on shares of Snowflake in a research note on Tuesday, August 26th. Finally, Barclays increased their price objective on shares of Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.