Whipplewood Advisors LLC Has $122,000 Position in Snowflake Inc. $SNOW

Whipplewood Advisors LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 15.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 545 shares of the company’s stock after purchasing an additional 74 shares during the quarter. Whipplewood Advisors LLC’s holdings in Snowflake were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after acquiring an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Snowflake during the 2nd quarter worth $3,900,134,000. Price T Rowe Associates Inc. MD increased 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 acquiring an additional 763,673 shares during the period. Nuveen LLC bought a new position in Snowflake during the 1st quarter worth $555,847,000. Finally, Goldman Sachs Group Inc. increased its stake in Snowflake by 22.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock worth $524,293,000 after acquiring an additional 650,775 shares during the period. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Guggenheim restated a “neutral” rating on shares of Snowflake in a research note on Thursday, August 28th. Barclays raised their price objective on Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. boosted their price target on Snowflake from $225.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Mizuho raised their price objective on Snowflake from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Finally, Jefferies Financial Group raised their price objective on Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Two equities research 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 assigned a Sell rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $257.24.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 7,551 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the sale, the director owned 153,226 shares in the company, valued at $33,899,720.24. The trade was a 4.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Emily Ho sold 1,658 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total value of $373,464.50. Following the sale, the chief accounting officer owned 31,745 shares in the company, valued at $7,150,561.25. This represents a 4.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,182,434 shares of company stock worth $270,280,661 over the last three months. 6.80% of the stock is owned by corporate insiders.

Snowflake Trading Up 1.9%

Shares of SNOW stock opened at $257.84 on Monday. The firm has a market capitalization of $87.36 billion, a P/E ratio of -62.13 and a beta of 1.21. Snowflake Inc. has a twelve month low of $113.23 and a twelve month 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 stock’s fifty day simple moving average is $227.78 and its 200 day simple moving average is $206.36.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data 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 for 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 quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Snowflake Company 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.