Creekmur Asset Management LLC Acquires 8,666 Shares of Snowflake Inc. $SNOW

Creekmur Asset Management LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 2,947.6% during the second quarter, Holdings Channel.com reports. The fund owned 8,960 shares of the company’s stock after purchasing an additional 8,666 shares during the quarter. Creekmur Asset Management LLC’s holdings in Snowflake were worth $2,005,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Capital Advantage Inc. increased its position in Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after acquiring an additional 48 shares during the period. Avion Wealth increased its position in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the period. Ignite Planners LLC increased its position in shares of Snowflake by 2.3% in the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock worth $418,000 after purchasing an additional 64 shares during the period. Koshinski Asset Management Inc. increased its position in shares of Snowflake by 4.2% in the second quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock worth $359,000 after purchasing an additional 64 shares during the period. Finally, TD Private Client Wealth LLC increased its position in shares of Snowflake by 8.9% in the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock worth $122,000 after purchasing an additional 68 shares during the period. 65.10% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Frank Slootman sold 7,551 shares of Snowflake stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the sale, the director directly owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. This trade represents a 4.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Emily Ho sold 1,658 shares of Snowflake stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $225.25, for a total value of $373,464.50. Following the sale, the chief accounting officer directly owned 31,745 shares in the company, valued at $7,150,561.25. The trade was a 4.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 865,647 shares of company stock valued at $199,370,673. 6.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on SNOW. Mizuho raised their price target on Snowflake from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Cantor Fitzgerald raised their price target on Snowflake from $242.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Barclays raised their price target on Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Sanford C. Bernstein raised their price target on Snowflake from $191.00 to $221.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Finally, Stifel Nicolaus raised their price target on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating 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 issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $258.95.

Snowflake Trading Up 0.5%

SNOW opened at $271.14 on Friday. The company’s 50 day moving average is $233.67 and its 200-day moving average is $209.34. Snowflake Inc. has a 1-year low of $113.23 and a 1-year high of $273.29. 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 company has a market cap of $91.86 billion, a P/E ratio of -65.33 and a beta of 1.21.

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

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.