Montag A & Associates Inc. Boosts Stock Position in Snowflake Inc. $SNOW

Montag A & Associates Inc. lifted its stake in Snowflake Inc. (NYSE:SNOW) by 234.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 291 shares of the company’s stock after purchasing an additional 204 shares during the quarter. Montag A & Associates Inc.’s holdings in Snowflake were worth $65,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Goldman Sachs Group Inc. lifted its holdings in Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock valued at $524,293,000 after acquiring an additional 650,775 shares during the last quarter. CenterBook Partners LP acquired a new stake in Snowflake during the first quarter worth $2,381,000. Berkshire Capital Holdings Inc. raised its position in Snowflake by 71,500.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company’s stock valued at $1,047,000 after purchasing an additional 7,150 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Snowflake in the 2nd quarter valued at $6,845,000. Finally, Lyell Wealth Management LP lifted its stake in shares of Snowflake by 5.1% in the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company’s stock valued at $8,870,000 after purchasing an additional 2,955 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SNOW shares. Piper Sandler boosted their price objective on shares of Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Raymond James Financial lifted their price target on shares of Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Truist Financial boosted their price target on shares of Snowflake from $235.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Snowflake in a research report on Wednesday, October 8th. Finally, Wedbush upped their price target on Snowflake from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Two research 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 company’s stock. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $259.89.

Insider Buying and Selling

In related news, Director Frank Slootman sold 710,083 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the sale, the director directly owned 165,507 shares in the company, valued at approximately $38,144,398.29. This represents a 81.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $224.85, for a total transaction of $11,318,499.30. Following the completion of the sale, the director directly owned 35,276 shares in the company, valued at approximately $7,931,808.60. This trade represents a 58.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 931,388 shares of company stock valued at $216,578,628. Corporate insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $257.15 on Friday. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The firm has a 50 day moving average of $243.42 and a two-hundred day moving average of $217.75. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $87.12 billion, a PE ratio of -61.96 and a beta of 1.23.

Snowflake (NYSE:SNOW) last released its 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 firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the business posted $0.18 earnings per share. Snowflake’s revenue was up 31.8% compared to the same quarter last year. On average, research analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.