1858 Wealth Management LLC Purchases 364 Shares of Snowflake Inc. $SNOW

1858 Wealth Management LLC lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 16.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,595 shares of the company’s stock after acquiring an additional 364 shares during the period. 1858 Wealth Management LLC’s holdings in Snowflake were worth $581,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in Snowflake by 22.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock valued at $524,293,000 after purchasing an additional 650,775 shares during the last quarter. CenterBook Partners LP bought a new position in Snowflake in the 1st quarter valued at approximately $2,381,000. Berkshire Capital Holdings Inc. lifted its stake in Snowflake by 71,500.0% in the 1st quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company’s stock valued at $1,047,000 after purchasing an additional 7,150 shares during the last quarter. Lyell Wealth Management LP lifted its stake in Snowflake by 5.1% in the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company’s stock valued at $8,870,000 after purchasing an additional 2,955 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Snowflake in the 1st quarter valued at approximately $898,000. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNOW. Scotiabank increased their price objective on shares of Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Jefferies Financial Group raised their price target on shares of Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Citigroup reiterated an “outperform” rating on shares of Snowflake in a report on Thursday, August 28th. Barclays lifted their price target on shares of Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Finally, Robert W. Baird lifted their price target on shares of Snowflake from $215.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.18.

Snowflake Price Performance

Shares of NYSE SNOW opened at $242.52 on Friday. Snowflake Inc. has a twelve month low of $113.23 and a twelve month high of $255.39. The firm has a fifty day simple moving average of $218.64 and a 200 day simple moving average of $198.82. The company has a market capitalization of $82.17 billion, a PE ratio of -58.44 and a beta of 1.21. 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 announced its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned $0.18 earnings per share. Snowflake’s quarterly revenue was up 31.8% on a year-over-year basis. On average, sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity

In related news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction 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 owned 527,336 shares of the company’s stock, valued at $123,132,956. This trade represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the sale, the director directly owned 165,507 shares of the company’s stock, valued at approximately $38,144,398.29. This trade represents a 81.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,182,434 shares of company stock worth $270,280,661 over the last ninety days. 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.