Simon Quick Advisors LLC Purchases New Shares in Snowflake Inc. (NYSE:SNOW)

Simon Quick Advisors LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,228 shares of the company’s stock, valued at approximately $301,000.

Several other institutional investors have also added to or reduced their stakes in SNOW. Accent Capital Management LLC bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in shares of Snowflake during the 1st quarter valued at $29,000. FinTrust Capital Advisors LLC grew its position in shares of Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares during the period. Riverview Trust Co purchased a new stake in shares of Snowflake in the 1st quarter worth about $31,000. Finally, Hartford Financial Management Inc. bought a new position in shares of Snowflake in the 1st quarter worth about $32,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Up 0.8 %

Shares of NYSE:SNOW opened at $111.71 on Friday. The stock has a 50 day moving average of $127.10 and a 200 day moving average of $147.49. The company has a market cap of $37.40 billion, a PE ratio of -39.90 and a beta of 0.83. Snowflake Inc. has a 12-month low of $107.93 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.52) earnings per share. Equities research analysts predict that Snowflake Inc. will post -2.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SNOW shares. Robert W. Baird cut their price objective on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Scotiabank cut their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 22nd. DA Davidson lowered their price objective on Snowflake from $230.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 target price on shares of Snowflake in a research note on Monday, July 1st. Finally, JPMorgan Chase & Co. raised their price target on Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $176.03.

Insider Buying and Selling at Snowflake

In other news, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $2,144,700.00. Following the sale, the executive vice president now directly owns 733,773 shares in the company, valued at approximately $104,914,863.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the sale, the director now owns 4,247 shares in the company, valued at approximately $607,236.06. The disclosure for this sale can be found here. Insiders have sold a total of 512,678 shares of company stock valued at $63,434,135 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

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.