SteelPeak Wealth LLC Buys 202 Shares of Snowflake Inc. $SNOW

SteelPeak Wealth LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,256 shares of the company’s stock after buying an additional 202 shares during the quarter. SteelPeak Wealth LLC’s holdings in Snowflake were worth $1,847,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in shares of Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock worth $524,293,000 after purchasing an additional 650,775 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of Snowflake in the first quarter worth about $2,381,000. Berkshire Capital Holdings Inc. grew its stake in shares of Snowflake by 71,500.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company’s stock worth $1,047,000 after purchasing an additional 7,150 shares during the last quarter. Lyell Wealth Management LP grew its stake in shares of Snowflake by 5.1% in the first quarter. Lyell Wealth Management LP now owns 60,685 shares of the company’s stock worth $8,870,000 after purchasing an additional 2,955 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Snowflake in the first quarter worth about $898,000. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the transaction, the executive vice president directly owned 527,336 shares in the company, valued at approximately $123,132,956. This trade represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction that occurred 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 transaction, the senior vice president owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,177,434 shares of company stock valued at $269,030,661 over the last ninety days. Company insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SNOW shares. Cowen reissued a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Stephens started coverage on Snowflake in a research note on Friday, July 18th. They issued an “overweight” rating and a $261.00 target price on the stock. The Goldman Sachs Group raised their target price on Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. KeyCorp raised their target price on Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Finally, Sanford C. Bernstein raised their price objective on shares of Snowflake from $191.00 to $221.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Two 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.53.

Snowflake Price Performance

SNOW stock opened at $235.34 on Wednesday. The firm has a 50 day moving average price of $216.75 and a 200-day moving average price of $197.03. Snowflake Inc. has a 52-week low of $113.13 and a 52-week high of $249.99. The firm has a market capitalization of $79.73 billion, a price-to-earnings ratio of -56.71 and a beta of 1.21. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the business earned $0.18 earnings per share. The business’s revenue was up 31.8% on a year-over-year basis. Equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal 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.