Liberty One Investment Management LLC Has $250,000 Position in Snowflake Inc. $SNOW

Liberty One Investment Management LLC lessened its stake in Snowflake Inc. (NYSE:SNOW) by 15.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,115 shares of the company’s stock after selling 204 shares during the quarter. Liberty One Investment Management LLC’s holdings in Snowflake were worth $250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of Snowflake in the second quarter worth $3,900,134,000. Nuveen LLC purchased a new position in Snowflake in the first quarter valued at about $555,847,000. AQR Capital Management LLC increased its position in Snowflake by 346.2% in the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after purchasing an additional 2,460,769 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in 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 worth $691,693,000 after purchasing an additional 763,673 shares during the last quarter. Finally, Amundi raised its stake in shares of Snowflake by 72.7% during the 1st quarter. Amundi now owns 1,808,250 shares of the company’s stock worth $252,974,000 after purchasing an additional 760,923 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 7,551 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. The trade was a 4.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 2,976 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $236.01, for a total value of $702,365.76. Following the sale, the director owned 34,436 shares of the company’s stock, valued at approximately $8,127,240.36. The trade was a 7.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,182,434 shares of company stock valued at $270,280,661. 6.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SNOW has been the subject of several recent research reports. UBS Group boosted their price target on Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Evercore ISI lifted their target price on shares of Snowflake from $240.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. BTIG Research boosted their target price on shares of Snowflake from $235.00 to $276.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Wells Fargo & Company assumed coverage on shares of Snowflake in a research note on Tuesday, September 30th. They set an “overweight” rating and a $275.00 price target on the stock. Finally, Sanford C. Bernstein lifted their price objective on shares of Snowflake from $191.00 to $221.00 and gave the company a “market perform” 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 assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.24.

Snowflake Price Performance

Shares of Snowflake stock opened at $247.52 on Wednesday. The firm has a fifty day simple moving average of $224.55 and a 200-day simple moving average of $203.51. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 1-year low of $113.23 and a 1-year high of $255.39. The stock has a market capitalization of $83.86 billion, a price-to-earnings ratio of -59.64 and a beta of 1.21.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. Snowflake’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. On average, sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share 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.