SWS Partners Has $3.02 Million Position in Snowflake Inc. $SNOW

SWS Partners boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 2.5% in the first quarter, Holdings Channel reports. The firm owned 20,683 shares of the company’s stock after purchasing an additional 507 shares during the period. SWS Partners’ holdings in Snowflake were worth $3,023,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in Snowflake by 29.7% in the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after acquiring an additional 73 shares during the period. IFM Investors Pty Ltd grew its stake in Snowflake by 0.5% in the first quarter. IFM Investors Pty Ltd now owns 54,020 shares of the company’s stock valued at $7,896,000 after acquiring an additional 274 shares during the period. Intech Investment Management LLC grew its stake in Snowflake by 24.0% in the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after acquiring an additional 2,167 shares during the period. Focus Partners Wealth grew its stake in Snowflake by 0.5% in the first quarter. Focus Partners Wealth now owns 99,545 shares of the company’s stock valued at $14,550,000 after acquiring an additional 460 shares during the period. Finally, Integrity Alliance LLC. acquired a new position in Snowflake in the first quarter valued at about $646,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SNOW. DA Davidson reissued a “buy” rating and issued a $250.00 target price on shares of Snowflake in a research note on Monday, August 25th. Oppenheimer upped their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Barclays upped their price target on shares of Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Robert W. Baird upped their price target on shares of Snowflake from $215.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Finally, CICC Research began coverage on shares of Snowflake in a report on Friday, June 20th. They issued an “outperform” rating and a $225.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $255.53.

Snowflake Stock Performance

Shares of SNOW opened at $226.03 on Thursday. Snowflake Inc. has a 12 month low of $108.71 and a 12 month high of $249.99. The firm has a fifty day simple moving average of $212.76 and a 200 day simple moving average of $188.17. The stock has a market capitalization of $75.46 billion, a price-to-earnings ratio of -54.47 and a beta of 1.22. The company has a current ratio of 1.48, a quick ratio of 1.58 and a debt-to-equity ratio of 0.96.

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

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 548 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $223.86, for a total transaction of $122,675.28. Following the sale, the executive vice president owned 553,733 shares in the company, valued at approximately $123,958,669.38. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 1,938 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $223.86, for a total value of $433,840.68. Following the sale, the director owned 162,737 shares in the company, valued at $36,430,304.82. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,224,389 shares of company stock worth $719,812,350. Corporate insiders own 6.80% of the company’s stock.

About Snowflake

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.