QTR Family Wealth LLC Buys Shares of 1,177 Snowflake Inc. $SNOW

QTR Family Wealth LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,177 shares of the company’s stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SNOW. Forza Wealth Management LLC purchased a new stake in Snowflake during the 2nd quarter worth approximately $263,000. Victrix Investment Advisors lifted its holdings in Snowflake by 22.8% during the 2nd quarter. Victrix Investment Advisors now owns 4,265 shares of the company’s stock worth $954,000 after buying an additional 793 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings in Snowflake by 4.5% in the second quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 11,500 shares of the company’s stock valued at $2,573,000 after purchasing an additional 500 shares in the last quarter. Sicart Associates LLC acquired a new position in shares of Snowflake in the 2nd quarter valued at $225,000. Finally, Cooper Financial Group acquired a new position in Snowflake in the second quarter valued at $947,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 7,551 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total value of $1,670,583.24. Following the sale, the director directly owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. This trade represents a 4.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $224.84, for a total transaction of $90,610.52. Following the completion of the sale, the director owned 25,733 shares of the company’s stock, valued at approximately $5,785,807.72. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,759,924 shares of company stock valued at $397,943,442 in the last quarter. Corporate insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SNOW. Monness Crespi & Hardt lifted their target price on shares of Snowflake from $245.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Cowen restated a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Stephens assumed coverage on shares of Snowflake in a research report on Friday, July 18th. They set an “overweight” rating and a $261.00 target price on the stock. Wedbush raised their price target on Snowflake from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Finally, Raymond James Financial lifted their target price on shares of Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.53.

Snowflake Stock Up 0.2%

SNOW stock opened at $225.60 on Wednesday. The company has a 50 day moving average price of $214.75 and a two-hundred day moving average price of $194.23. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $76.43 billion, a P/E ratio of -54.36 and a beta of 1.22. Snowflake Inc. has a one year low of $108.71 and a one year high of $249.99.

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 for the quarter, compared to analysts’ expectations of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business’s revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. As a group, sell-side analysts expect 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.