Koshinski Asset Management Inc. Purchases 64 Shares of Snowflake Inc. $SNOW

Koshinski Asset Management Inc. lifted its position in Snowflake Inc. (NYSE:SNOW) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,604 shares of the company’s stock after buying an additional 64 shares during the period. Koshinski Asset Management Inc.’s holdings in Snowflake were worth $359,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Citizens Business Bank lifted its stake in shares of Snowflake by 8.9% in the second quarter. Citizens Business Bank now owns 20,831 shares of the company’s stock worth $4,661,000 after buying an additional 1,694 shares in the last quarter. Huntleigh Advisors Inc. purchased a new position in shares of Snowflake during the second quarter valued at approximately $486,000. Carmel Capital Partners LLC purchased a new position in shares of Snowflake during the second quarter valued at approximately $235,000. Chevy Chase Trust Holdings LLC raised its holdings in shares of Snowflake by 1.5% during the second quarter. Chevy Chase Trust Holdings LLC now owns 334,566 shares of the company’s stock valued at $74,866,000 after purchasing an additional 5,090 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Snowflake by 12.9% during the second quarter. Stratos Wealth Partners LTD. now owns 6,787 shares of the company’s stock valued at $1,519,000 after purchasing an additional 775 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the transaction, the senior vice president owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 710,083 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the transaction, the director directly owned 165,507 shares in the company, valued at $38,144,398.29. This trade represents a 81.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,182,434 shares of company stock valued at $270,280,661. Company insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

SNOW opened at $245.74 on Tuesday. The firm has a market cap of $83.26 billion, a P/E ratio of -59.21 and a beta of 1.21. Snowflake Inc. has a 1-year low of $113.23 and a 1-year high of $255.39. The company has a 50 day simple moving average of $223.46 and a two-hundred day simple moving average of $203.20. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 33.53% and a negative return on equity of 42.98%. The company’s revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. Equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNOW. Wedbush boosted their price objective on shares of Snowflake from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Monday. Evercore ISI boosted their price objective on shares of Snowflake from $240.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Wells Fargo & Company began coverage on shares of Snowflake in a report on Tuesday, September 30th. They set an “overweight” rating and a $275.00 price objective for the company. BTIG Research boosted their target price on shares of Snowflake from $235.00 to $276.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, Morgan Stanley upped their target price on shares of Snowflake from $262.00 to $272.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $257.24.

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.