Koshinski Asset Management Inc. Grows Position in Snowflake Inc. $SNOW

Koshinski Asset Management Inc. lifted its stake in Snowflake Inc. (NYSE:SNOW) by 4.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,604 shares of the company’s stock after buying an additional 64 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Snowflake were worth $359,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new stake in Snowflake during the second quarter valued at $3,900,134,000. Nuveen LLC purchased a new stake in Snowflake during the first quarter valued at $555,847,000. AQR Capital Management LLC raised its stake in Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after purchasing an additional 2,460,769 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after purchasing an additional 763,673 shares in the last quarter. Finally, Amundi raised its stake in Snowflake by 72.7% during the first quarter. Amundi now owns 1,808,250 shares of the company’s stock valued at $252,974,000 after purchasing an additional 760,923 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 2.1%

NYSE SNOW opened at $245.74 on Tuesday. The company’s 50-day moving average price is $223.46 and its 200-day moving average price is $203.20. 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 stock has a market cap of $83.26 billion, a PE ratio of -59.21 and a beta of 1.21. Snowflake Inc. has a 12 month low of $113.23 and a 12 month high of $255.39.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.18 earnings per share. Equities research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $208.69, for a total value of $10,505,037.22. Following the transaction, the director directly owned 36,116 shares in the company, valued at approximately $7,537,048.04. This represents a 58.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president owned 241,854 shares in the company, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,182,434 shares of company stock valued at $270,280,661. Company insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent research reports. Barclays upped their price target on shares of Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Royal Bank Of Canada upped their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Stephens initiated coverage on shares of Snowflake in a research note on Friday, July 18th. They set an “overweight” rating and a $261.00 price target on the stock. Needham & Company LLC upped their price target on shares of Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Finally, Cantor Fitzgerald increased their target price on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $257.24.

Snowflake Company 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.