Chicago Partners Investment Group LLC Purchases 2,554 Shares of Snowflake Inc. $SNOW

Chicago Partners Investment Group LLC increased its position in Snowflake Inc. (NYSE:SNOW) by 68.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,261 shares of the company’s stock after buying an additional 2,554 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Snowflake were worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new stake in Snowflake in the 2nd quarter worth approximately $25,000. Golden State Wealth Management LLC lifted its position in Snowflake by 748.0% in the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock worth $31,000 after buying an additional 187 shares during the last quarter. HighMark Wealth Management LLC lifted its position in Snowflake by 200.0% in the 2nd quarter. HighMark Wealth Management LLC now owns 225 shares of the company’s stock worth $50,000 after buying an additional 150 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in Snowflake in the 2nd quarter worth approximately $53,000. Finally, Hilltop National Bank bought a new stake in Snowflake in the 2nd quarter worth approximately $53,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of Snowflake stock opened at $245.74 on Tuesday. 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 company has a market cap of $83.26 billion, a PE ratio of -59.21 and a beta of 1.21. The business has a 50 day moving average of $223.46 and a 200 day moving average of $203.20. Snowflake Inc. has a 52 week low of $113.23 and a 52 week high of $255.39.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. As a group, equities research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analysts Set New Price Targets

SNOW has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Jefferies Financial Group boosted their price objective on Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Stephens assumed coverage on Snowflake in a research report on Friday, July 18th. They issued an “overweight” rating and a $261.00 price objective for the company. Cowen reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Finally, Piper Sandler boosted their price objective on Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $257.24.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $10,505,037.22. Following the completion of the transaction, the director 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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total value of $2,335,000.00. Following the completion of the transaction, the executive vice president owned 527,336 shares of the company’s stock, valued at approximately $123,132,956. This trade represents a 1.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,182,434 shares of company stock worth $270,280,661 in the last ninety 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.