Snowflake Inc. $SNOW Stock Holdings Boosted by Quadrant Private Wealth Management LLC

Quadrant Private Wealth Management LLC grew its holdings in Snowflake Inc. (NYSE:SNOW) by 36.9% in the second quarter, Holdings Channel reports. The institutional investor owned 65,228 shares of the company’s stock after acquiring an additional 17,577 shares during the quarter. Snowflake accounts for 3.0% of Quadrant Private Wealth Management LLC’s holdings, making the stock its 3rd largest holding. Quadrant Private Wealth Management LLC’s holdings in Snowflake were worth $14,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake in the 2nd quarter valued at $3,900,134,000. Nuveen LLC acquired a new position in Snowflake during the first quarter worth $555,847,000. AQR Capital Management LLC lifted its holdings 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. Jennison Associates LLC lifted its holdings in Snowflake by 20.5% during the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock valued at $1,790,309,000 after purchasing an additional 1,363,389 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Snowflake by 19.2% in 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 during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Trading Down 0.8%

Shares of Snowflake stock opened at $262.72 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The stock’s 50 day simple moving average is $240.55 and its 200-day simple moving average is $214.54. The stock has a market cap of $89.01 billion, a P/E ratio of -63.31 and a beta of 1.23. Snowflake Inc. has a 1-year low of $119.66 and a 1-year high of $280.67.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. Analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the subject of several research analyst reports. Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Thursday, August 28th. Citigroup reiterated a “market outperform” rating on shares of Snowflake in a research note on Tuesday, October 28th. Macquarie increased their target price on Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Canaccord Genuity Group raised 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. Finally, Needham & Company LLC lifted their price target on Snowflake from $230.00 to $280.00 and gave the stock a “buy” 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, three have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $258.95.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the transaction, the executive vice president owned 522,450 shares in the company, valued at $145,100,038.50. The trade was a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president directly owned 241,854 shares in the company, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 880,647 shares of company stock valued at $203,522,973 over the last 90 days. Insiders own 6.80% of the company’s stock.

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.