Sagespring Wealth Partners LLC Increases Stock Position in Snowflake Inc. $SNOW

Sagespring Wealth Partners LLC boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 29.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,205 shares of the company’s stock after buying an additional 727 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Snowflake were worth $717,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Snowflake by 1.2% during the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after buying an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Snowflake in the second quarter valued at $3,900,134,000. Price T Rowe Associates Inc. MD boosted its holdings in 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. Nuveen LLC purchased a new position in Snowflake in the first quarter valued at $555,847,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Snowflake by 22.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock valued at $524,293,000 after buying an additional 650,775 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 2,976 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $236.01, for a total value of $702,365.76. Following the completion of the sale, the director owned 34,436 shares in the company, valued at approximately $8,127,240.36. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 7,551 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the completion of the sale, the director owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. This trade represents a 4.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,182,434 shares of company stock valued at $270,280,661 in the last 90 days. Company insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $240.88 on Thursday. Snowflake Inc. has a 1-year low of $113.23 and a 1-year high of $255.39. The stock has a market cap of $81.61 billion, a PE ratio of -58.04 and a beta of 1.21. 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 firm has a fifty day moving average price of $220.73 and a 200 day moving average price of $200.36.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC lifted their price objective on Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. 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. Stifel Nicolaus lifted their price objective on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Wedbush lifted their price objective on shares of Snowflake from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Snowflake in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.18.

About Snowflake

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.