Americana Partners LLC Acquires 5,920 Shares of Snowflake Inc. $SNOW

Americana Partners LLC boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 31.3% during the second quarter, HoldingsChannel reports. The fund owned 24,822 shares of the company’s stock after purchasing an additional 5,920 shares during the quarter. Americana Partners LLC’s holdings in Snowflake were worth $5,554,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SNOW. Trust Co. of Toledo NA OH acquired a new stake in Snowflake in the second quarter valued at $25,000. Avion Wealth grew its position in shares of Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after buying an additional 49 shares during the last quarter. Rossby Financial LCC increased its stake in shares of Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 127 shares during the period. Whittier Trust Co. raised its position in shares of Snowflake by 149.1% during the second quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of Snowflake by 417.2% during the second quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock worth $34,000 after acquiring an additional 121 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the firm’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 value of $2,634,219.22. Following the completion of the sale, the senior vice president owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the business’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 sale, the executive vice president owned 527,336 shares of the company’s stock, valued at approximately $123,132,956. This represents a 1.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 880,647 shares of company stock worth $203,522,973 in the last three months. Insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SNOW. BTIG Research increased their target price on shares of Snowflake from $235.00 to $276.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Wedbush upped their price objective on shares of Snowflake from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Macquarie increased their price objective on shares of Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. KeyCorp boosted their target price on shares of Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Sanford C. Bernstein upped their price target on shares of Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $258.95.

Snowflake Trading Down 0.8%

NYSE:SNOW opened at $262.72 on Monday. The firm has a fifty day simple moving average of $240.55 and a two-hundred day simple moving average of $215.54. Snowflake Inc. has a 12 month low of $119.66 and a 12 month high of $280.67. The stock has a market capitalization of $89.01 billion, a price-to-earnings ratio of -63.31 and a beta of 1.23. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. Analysts expect 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.