SWS Partners Has $5.80 Million Stock Holdings in Snowflake Inc. $SNOW

SWS Partners raised its holdings in Snowflake Inc. (NYSE:SNOW) by 25.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,931 shares of the company’s stock after purchasing an additional 5,248 shares during the quarter. Snowflake accounts for approximately 1.6% of SWS Partners’ investment portfolio, making the stock its 13th biggest position. SWS Partners’ holdings in Snowflake were worth $5,803,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake in the 1st quarter valued at $26,000. CVA Family Office LLC boosted its holdings in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Snowflake by 748.0% in the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock valued at $31,000 after purchasing an additional 187 shares in the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of Snowflake by 53.1% in the 1st quarter. Tradewinds Capital Management LLC now owns 245 shares of the company’s stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Snowflake in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the transaction, the director directly owned 165,507 shares of the company’s stock, valued at approximately $38,144,398.29. This trade represents a 81.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $221.47, for a total value of $11,148,356.86. Following the completion of the transaction, the director directly owned 36,956 shares of the company’s stock, valued at approximately $8,184,645.32. This trade represents a 57.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,251,864 shares of company stock valued at $504,714,102. 6.80% of the stock is owned by corporate insiders.

Snowflake Stock Up 1.4%

Shares of NYSE:SNOW opened at $224.64 on Monday. The firm has a market cap of $76.11 billion, a P/E ratio of -54.13 and a beta of 1.22. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 12-month low of $108.71 and a 12-month high of $249.99. The business has a fifty day simple moving average of $214.29 and a 200 day simple moving average of $193.53.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.Snowflake’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. Analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SNOW shares. Royal Bank Of Canada raised their target price on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Jefferies Financial Group increased their price target on Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. DA Davidson reiterated a “buy” rating and issued a $250.00 price target on shares of Snowflake in a research note on Monday, August 25th. UBS Group increased their price target on Snowflake from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.53.

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.