K.J. Harrison & Partners Inc Takes Position in Snowflake Inc. $SNOW

K.J. Harrison & Partners Inc purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 16,005 shares of the company’s stock, valued at approximately $3,581,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tsfg LLC grew its position in Snowflake by 5.1% during the second quarter. Tsfg LLC now owns 2,680 shares of the company’s stock worth $600,000 after buying an additional 129 shares in the last quarter. Westside Investment Management Inc. grew its position in Snowflake by 4.8% during the second quarter. Westside Investment Management Inc. now owns 13,844 shares of the company’s stock worth $3,076,000 after buying an additional 640 shares in the last quarter. Sigma Planning Corp grew its position in Snowflake by 17.8% during the second quarter. Sigma Planning Corp now owns 3,118 shares of the company’s stock worth $698,000 after buying an additional 471 shares in the last quarter. Carson Advisory Inc. grew its position in Snowflake by 6.5% during the second quarter. Carson Advisory Inc. now owns 2,040 shares of the company’s stock worth $456,000 after buying an additional 125 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its position in Snowflake by 60.2% during the second quarter. iA Global Asset Management Inc. now owns 52,290 shares of the company’s stock worth $11,701,000 after buying an additional 19,640 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

NYSE:SNOW opened at $274.81 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $235.24 and a 200-day moving average of $211.14. Snowflake Inc. has a 1 year low of $113.23 and a 1 year high of $275.48. The stock has a market capitalization of $93.11 billion, a P/E ratio of -66.22 and a beta of 1.23.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping 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 analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company posted $0.18 EPS. Snowflake’s revenue was up 31.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction on Friday, September 5th. The shares were sold at an average price of $224.85, for a total transaction of $11,318,499.30. Following the completion of the sale, the director owned 35,276 shares of the company’s stock, valued at approximately $7,931,808.60. The trade was a 58.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the sale, the executive vice president directly owned 527,336 shares of the company’s stock, valued at $123,132,956. This represents a 1.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 865,647 shares of company stock worth $199,370,673. Company insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SNOW shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Snowflake in a research report on Wednesday, October 8th. Stephens began coverage on Snowflake in a research report on Friday, July 18th. They set an “overweight” rating and a $261.00 target price on the stock. Monness Crespi & Hardt raised their price target on shares of Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. DA Davidson restated a “buy” rating and set a $250.00 price target on shares of Snowflake in a research note on Monday, August 25th. Finally, Wedbush raised their price target on shares of Snowflake from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $258.95.

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.