HighMark Wealth Management LLC Raises Stock Position in Snowflake Inc. $SNOW

HighMark Wealth Management LLC increased its stake in Snowflake Inc. (NYSE:SNOW) by 200.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 225 shares of the company’s stock after purchasing an additional 150 shares during the quarter. HighMark Wealth Management LLC’s holdings in Snowflake were worth $50,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Brighton Jones LLC boosted its holdings in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Snowflake by 134.3% in the first quarter. Versant Capital Management Inc now owns 403 shares of the company’s stock worth $59,000 after purchasing an additional 231 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Snowflake by 29,543.2% in the first quarter. GAMMA Investing LLC now owns 115,905 shares of the company’s stock worth $16,941,000 after purchasing an additional 115,514 shares during the last quarter. NBC Securities Inc. boosted its holdings in Snowflake by 124,333.3% in the first quarter. NBC Securities Inc. now owns 3,733 shares of the company’s stock worth $545,000 after purchasing an additional 3,730 shares during the last quarter. Finally, Merit Financial Group LLC boosted its holdings in Snowflake by 464.7% in the first quarter. Merit Financial Group LLC now owns 18,019 shares of the company’s stock worth $2,634,000 after purchasing an additional 14,828 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 4.3%

Shares of SNOW stock opened at $240.51 on Friday. The company has a market capitalization of $81.48 billion, a price-to-earnings ratio of -57.95 and a beta of 1.21. Snowflake Inc. has a one year low of $108.71 and a one year high of $249.99. The company’s fifty day moving average price is $215.62 and its 200-day moving average price is $195.06. 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 (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for 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 company’s revenue was up 31.8% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS. Sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SNOW has been the topic of several analyst reports. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research note on Thursday, August 28th. Oppenheimer lifted their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Royal Bank Of Canada lifted their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Cantor Fitzgerald lifted their price target on shares of Snowflake from $242.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Finally, KeyCorp lifted their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.53.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,658 shares of Snowflake 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 directly owned 31,745 shares in the company, valued at approximately $7,150,561.25. The trade was a 4.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $223.88, for a total transaction of $2,238,800.00. Following the completion of the sale, the executive vice president owned 532,450 shares in the company, valued at approximately $119,204,906. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,601,630 shares of company stock worth $362,990,571. 6.80% of the stock is currently owned by insiders.

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.