Liberty Wealth Management LLC Makes New $1.14 Million Investment in Snowflake Inc. $SNOW

Liberty Wealth Management LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 5,114 shares of the company’s stock, valued at approximately $1,144,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock valued at $3,974,705,000 after acquiring an additional 316,573 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snowflake in the 2nd quarter valued at about $3,900,134,000. Price T Rowe Associates Inc. MD grew its stake in Snowflake by 19.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after buying an additional 763,673 shares during the last quarter. Nuveen LLC acquired a new position in Snowflake during the first quarter worth approximately $555,847,000. Finally, Goldman Sachs Group Inc. lifted its stake 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 buying an additional 650,775 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNOW. Barclays raised their target price on shares of Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Thursday, August 28th. Stephens assumed coverage on shares of Snowflake in a research note on Friday, July 18th. They issued an “overweight” rating and a $261.00 price objective on the stock. Cantor Fitzgerald increased their target price on shares of Snowflake from $242.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Finally, Robert W. Baird boosted their price target on Snowflake from $215.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Two investment 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 issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.24.

Insiders Place Their Bets

In related news, Director Michael L. Speiser sold 47,362 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $236.32, for a total transaction of $11,192,587.84. Following the transaction, the director owned 34,892 shares of the company’s stock, valued at $8,245,677.44. This represents a 57.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 7,551 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total value of $1,670,583.24. Following the completion of the sale, the director directly 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. Over the last ninety days, insiders sold 1,182,434 shares of company stock worth $270,280,661. Corporate insiders own 6.80% of the company’s stock.

Snowflake Stock Up 1.9%

Shares of NYSE:SNOW opened at $257.84 on Monday. Snowflake Inc. has a fifty-two week low of $113.23 and a fifty-two week high of $259.75. 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 firm’s 50-day simple moving average is $227.78 and its 200-day simple moving average is $206.36. The company has a market cap of $87.36 billion, a price-to-earnings ratio of -62.13 and a beta of 1.21.

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

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.