Quent Capital LLC Boosts Stock Holdings in Snowflake Inc. $SNOW

Quent Capital LLC raised its holdings in Snowflake Inc. (NYSE:SNOW) by 21,396.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 21,926 shares of the company’s stock after acquiring an additional 21,824 shares during the period. Quent Capital LLC’s holdings in Snowflake were worth $4,906,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake in the first quarter worth about $26,000. CVA Family Office LLC lifted its holdings in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after buying an additional 88 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Snowflake by 748.0% in the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock worth $31,000 after buying an additional 187 shares in the last quarter. HighMark Wealth Management LLC lifted its holdings in shares of Snowflake by 200.0% in the second quarter. HighMark Wealth Management LLC now owns 225 shares of the company’s stock worth $50,000 after buying an additional 150 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new stake in shares of Snowflake in the second quarter worth about $53,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 2.1%

Shares of SNOW opened at $235.42 on Friday. The firm’s 50 day simple moving average is $215.94 and its 200 day simple moving average is $195.62. The company has a market capitalization of $79.76 billion, a P/E ratio of -56.73 and a beta of 1.21. 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 Inc. has a 1-year low of $111.15 and a 1-year high of $249.99.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $0.18 earnings per share. The business’s quarterly revenue was up 31.8% on a year-over-year basis. Sell-side analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $221.47, for a total value of $11,148,356.86. Following the transaction, the director owned 36,956 shares in the company, valued at approximately $8,184,645.32. This trade represents a 57.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 710,083 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at $38,144,398.29. This represents a 81.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,601,630 shares of company stock valued at $362,990,571 over the last ninety days. Insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNOW. Citigroup reissued an “outperform” rating on shares of Snowflake in a report on Thursday, August 28th. Raymond James Financial increased their price target on shares of Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Wells Fargo & Company began coverage on shares of Snowflake in a report on Tuesday. They issued an “overweight” rating and a $275.00 price target on the stock. Monness Crespi & Hardt increased their price target on shares of Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Finally, Stephens began coverage on shares of Snowflake in a report on Friday, July 18th. They issued an “overweight” rating and a $261.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $255.53.

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.