Onyx Bridge Wealth Group LLC Has $473,000 Stock Holdings in Snowflake Inc. $SNOW

Onyx Bridge Wealth Group LLC raised its position in Snowflake Inc. (NYSE:SNOW) by 22.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,115 shares of the company’s stock after buying an additional 387 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Snowflake were worth $473,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in Snowflake by 22.2% in the 1st 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. CenterBook Partners LP bought a new position in Snowflake in the 1st quarter valued at $2,381,000. Berkshire Capital Holdings Inc. boosted its position in Snowflake by 71,500.0% in the 1st quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company’s stock valued at $1,047,000 after buying an additional 7,150 shares during the last quarter. Lyell Wealth Management LP boosted its position in Snowflake by 5.1% in the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company’s stock valued at $8,870,000 after buying an additional 2,955 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in Snowflake in the 2nd quarter valued at $3,900,134,000. 65.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SNOW shares. Truist Financial increased their price objective on Snowflake from $235.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Macquarie increased their price objective on Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Citigroup reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, August 28th. Cowen reissued a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Finally, Stifel Nicolaus increased their price target on Snowflake from $220.00 to $260.00 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 issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $257.24.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 5,000 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $250.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president owned 43,568 shares of the company’s stock, valued at approximately $10,892,000. This trade represents a 10.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Emily Ho sold 1,658 shares of the firm’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 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 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 in the last three months. 6.80% of the stock is owned by insiders.

Snowflake Stock Performance

Shares of Snowflake stock opened at $241.71 on Thursday. The company has a market capitalization of $81.89 billion, a PE ratio of -58.24 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 company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock’s fifty day simple moving average is $225.44 and its 200 day simple moving average is $203.78.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The business 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 was up 31.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. On average, research analysts predict 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.