Virtue Capital Management LLC Buys New Stake in Snowflake Inc. $SNOW

Virtue Capital Management LLC purchased a new position in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 982 shares of the company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNOW. Trust Co. of Toledo NA OH purchased a new stake in shares of Snowflake during the second quarter worth about $25,000. Avion Wealth grew its position in Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the last quarter. Rossby Financial LCC raised its holdings in shares of Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after buying an additional 127 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of Snowflake by 149.1% during the second quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after buying an additional 82 shares during the period. Finally, Golden State Wealth Management LLC increased its position in shares of Snowflake by 417.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after acquiring an additional 121 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other news, SVP Vivek Raghunathan sold 11,801 shares of the company’s 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 owned 241,854 shares of the company’s stock, valued at $53,986,649.88. This represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the completion of the sale, the executive vice president owned 522,450 shares of the company’s stock, valued at approximately $145,100,038.50. The trade was a 1.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 221,305 shares of company stock valued at $52,925,799 over the last ninety days. Insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Evercore ISI lifted their price target on Snowflake from $240.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Scotiabank upped their target price on Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Stifel Nicolaus raised their price target on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Raymond James Financial increased their price target on Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Finally, KeyCorp boosted their price objective on Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $268.22.

Snowflake Stock Up 0.9%

SNOW opened at $250.97 on Friday. The company has a market cap of $85.03 billion, a PE ratio of -60.47 and a beta of 1.23. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67. The company has a 50-day moving average price of $248.96 and a 200 day moving average price of $224.24. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last posted 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. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business earned $0.18 EPS. Snowflake’s quarterly revenue was up 31.8% on a year-over-year basis. Sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Snowflake 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.