Snowflake Inc. $SNOW Stock Position Boosted by Quadrant Private Wealth Management LLC

Quadrant Private Wealth Management LLC boosted its position in Snowflake Inc. (NYSE:SNOW) by 36.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,228 shares of the company’s stock after purchasing an additional 17,577 shares during the quarter. Snowflake makes up approximately 3.0% of Quadrant Private Wealth Management LLC’s investment portfolio, making the stock its 3rd largest holding. Quadrant Private Wealth Management LLC’s holdings in Snowflake were worth $14,596,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Trust Co. of Toledo NA OH bought a new position in shares of Snowflake during the 2nd quarter worth approximately $25,000. Avion Wealth grew its holdings in Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the last quarter. Rossby Financial LCC increased its position in shares of Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 127 shares in the last quarter. Whittier Trust Co. increased its position in shares of Snowflake by 149.1% during the second quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after purchasing an additional 82 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Snowflake by 417.2% during the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SNOW. JMP Securities boosted their target price on Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 28th. Stifel Nicolaus raised their price target on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Stephens started coverage on shares of Snowflake in a report on Friday, July 18th. They set an “overweight” rating and a $261.00 price objective on the stock. Citigroup reiterated a “market outperform” rating on shares of Snowflake in a research note on Tuesday, October 28th. Finally, Mizuho upped their price target on shares of Snowflake from $235.00 to $260.00 and gave the company an “outperform” 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 issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $258.95.

Snowflake Trading Down 0.8%

NYSE SNOW opened at $262.72 on Friday. Snowflake Inc. has a 1 year low of $119.66 and a 1 year high of $280.67. 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 company has a market capitalization of $89.01 billion, a PE ratio of -63.31 and a beta of 1.23. The company has a fifty day moving average of $240.55 and a 200 day moving average of $214.54.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.08. The company had revenue of $1.14 billion for 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% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. Research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total value of $2,777,300.00. Following the sale, the executive vice president owned 522,450 shares in the company, valued at approximately $145,100,038.50. This represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Emily Ho sold 1,658 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total transaction of $373,464.50. Following the sale, the chief accounting officer directly owned 31,745 shares in the company, valued at $7,150,561.25. The trade was a 4.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 880,647 shares of company stock valued at $203,522,973 in the last three months. 6.80% of the stock is currently owned by insiders.

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.