3,164 Shares in Snowflake Inc. $SNOW Bought by Hobart Private Capital LLC

Hobart Private Capital LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,164 shares of the company’s stock, valued at approximately $708,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNOW. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake in the second quarter valued at $3,900,134,000. Nuveen LLC purchased a new position in shares of Snowflake in the first quarter valued at $555,847,000. AQR Capital Management LLC increased its position in shares of Snowflake by 346.2% in the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after buying an additional 2,460,769 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after buying an additional 763,673 shares in the last quarter. Finally, Amundi increased its position in shares of Snowflake by 72.7% in the first quarter. Amundi now owns 1,808,250 shares of the company’s stock valued at $252,974,000 after buying an additional 760,923 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Snowflake in a research report on Friday. Canaccord Genuity Group lifted their price objective on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. JMP Securities reiterated a “market outperform” rating and set a $260.00 price objective on shares of Snowflake in a research report on Tuesday, August 26th. Evercore ISI lifted their price objective on Snowflake from $240.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Finally, Cantor Fitzgerald lifted their price objective on Snowflake from $242.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $257.24.

Snowflake Stock Performance

Snowflake stock opened at $257.84 on Friday. The stock’s 50 day moving average price is $227.78 and its 200 day moving average price is $205.48. The firm has a market capitalization of $87.36 billion, a PE ratio of -62.13 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 Inc. has a one year low of $113.23 and a one year high of $259.75.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.Snowflake’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. As a group, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president directly owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total value 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. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,182,434 shares of company stock valued at $270,280,661. 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.