Beverly Hills Private Wealth LLC Increases Stock Holdings in Snowflake Inc. $SNOW

Beverly Hills Private Wealth LLC lifted its position in Snowflake Inc. (NYSE:SNOW) by 13.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,873 shares of the company’s stock after buying an additional 348 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Snowflake were worth $643,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SNOW. Trust Co. of Toledo NA OH purchased a new stake in Snowflake in the second quarter valued at approximately $25,000. Golden State Wealth Management LLC raised its stake in Snowflake by 748.0% in the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock valued at $31,000 after purchasing an additional 187 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in Snowflake by 53.1% in the first quarter. Tradewinds Capital Management LLC now owns 245 shares of the company’s stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in Snowflake in the first quarter valued at approximately $43,000. Finally, MRP Capital Investments LLC purchased a new stake in Snowflake in the first quarter valued at approximately $44,000. 65.10% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm’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 transaction, the executive vice president owned 527,336 shares in the company, valued at approximately $123,132,956. This trade represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $208.69, for a total transaction of $10,505,037.22. Following the completion of the transaction, the director owned 36,116 shares in the company, valued at $7,537,048.04. This represents a 58.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,182,434 shares of company stock worth $270,280,661 over the last ninety days. Company insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent analyst reports. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research note on Thursday, August 28th. Citigroup reaffirmed an “outperform” rating on shares of Snowflake in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised their target price on shares of Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. UBS Group increased their price target on shares of Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald increased their price target on shares of Snowflake from $242.00 to $275.00 and gave the company 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 issued a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $257.24.

Snowflake Stock Up 2.1%

Shares of Snowflake stock opened at $245.74 on Tuesday. 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 52-week low of $113.23 and a 52-week high of $255.39. The stock has a market capitalization of $83.26 billion, a price-to-earnings ratio of -59.21 and a beta of 1.21. The company’s 50 day moving average price is $223.46 and its 200-day moving average price is $203.20.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business earned $0.18 earnings per share. The business’s revenue was up 31.8% on a year-over-year basis. Equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current 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.