Liberty Wealth Management LLC Invests $1.14 Million in Snowflake Inc. $SNOW

Liberty Wealth Management LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,114 shares of the company’s stock, valued at approximately $1,144,000.

A number of other institutional investors also recently bought and sold shares of SNOW. Goldman Sachs Group Inc. grew its stake in shares of 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 buying an additional 650,775 shares during the period. CenterBook Partners LP acquired a new position in Snowflake in the first quarter valued at approximately $2,381,000. Berkshire Capital Holdings Inc. grew its position in 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 acquiring an additional 7,150 shares during the period. Lyell Wealth Management LP raised its position in Snowflake by 5.1% in the first 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 period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Snowflake in the 2nd quarter valued at $3,900,134,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

NYSE:SNOW opened at $257.84 on Monday. Snowflake Inc. has a 52 week low of $113.23 and a 52 week high of $259.75. The company has a fifty day simple moving average of $227.78 and a two-hundred day simple moving average of $206.36. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a market cap of $87.36 billion, a price-to-earnings ratio of -62.13 and a beta of 1.21.

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 analysts’ consensus estimates 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 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 posted $0.18 earnings per share. Snowflake’s revenue was up 31.8% compared to the same quarter last year. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on SNOW shares. Sanford C. Bernstein raised their price objective on Snowflake from $191.00 to $221.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. DA Davidson reiterated a “buy” rating and set a $250.00 price target on shares of Snowflake in a research report on Monday, August 25th. Stephens started coverage on shares of Snowflake in a report on Friday, July 18th. They issued an “overweight” rating and a $261.00 price objective on the stock. Truist Financial lifted their target price on shares of Snowflake from $235.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Finally, Cowen reissued a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $257.24.

Insider Buying and Selling

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the business’s 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 completion of the transaction, the senior vice president owned 241,854 shares in the company, valued at $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 available at this link. Also, EVP Christian Kleinerman sold 10,000 shares of the firm’s 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 sale, the executive vice president owned 527,336 shares in the company, valued at $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 have sold 1,182,434 shares of company stock worth $270,280,661. 6.80% of the stock is owned by corporate insiders.

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.