Williams & Novak LLC Acquires New Position in Snowflake Inc. $SNOW

Williams & Novak LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, Holdings Channel reports. The fund acquired 1,624 shares of the company’s stock, valued at approximately $363,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNOW. Kingstone Capital Partners Texas LLC purchased a new position in shares of Snowflake in the 2nd quarter valued at approximately $3,900,134,000. Nuveen LLC purchased a new position in shares of Snowflake in the 1st quarter valued at approximately $555,847,000. AQR Capital Management LLC raised its position in shares of Snowflake by 346.2% in the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after purchasing an additional 2,460,769 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after purchasing an additional 763,673 shares during the last quarter. Finally, Amundi raised its position in shares of Snowflake by 72.7% in the 1st quarter. Amundi now owns 1,808,250 shares of the company’s stock valued at $252,974,000 after purchasing an additional 760,923 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 1,658 shares of Snowflake stock in a transaction on Wednesday, September 24th. The shares were 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 of the company’s stock, valued at approximately $7,150,561.25. This trade represents a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the sale, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. This represents a 4.65% 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. Company insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SNOW shares. Rosenblatt Securities increased their price objective on shares of Snowflake from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. The Goldman Sachs Group raised their price target on shares of Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Truist Financial raised their price target on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Needham & Company LLC raised their price target on shares of Snowflake from $230.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, KeyCorp raised their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock an “overweight” 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 given a Sell rating to the stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $256.18.

Snowflake Price Performance

Shares of NYSE SNOW opened at $242.52 on Friday. The stock has a market capitalization of $82.17 billion, a price-to-earnings ratio of -58.44 and a beta of 1.21. Snowflake Inc. has a 12 month low of $113.23 and a 12 month high of $255.39. The firm’s 50 day simple moving average is $218.64 and its 200-day simple moving average is $198.54. 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 issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS 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 analysts’ expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business’s revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the company earned $0.18 EPS. Analysts expect that Snowflake Inc. will post -2.36 EPS for the current 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.