EFG Asset Management North America Corp. Acquires 5,823 Shares of Snowflake Inc. $SNOW

EFG Asset Management North America Corp. grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 36.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 21,586 shares of the company’s stock after buying an additional 5,823 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Snowflake were worth $4,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Capital Advantage Inc. boosted its stake in shares of Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after purchasing an additional 48 shares in the last quarter. Avion Wealth boosted its stake in shares of Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares in the last quarter. Ignite Planners LLC boosted its stake in shares of Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock valued at $418,000 after purchasing an additional 64 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of Snowflake by 4.2% during the second quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock valued at $359,000 after purchasing an additional 64 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Snowflake by 8.9% during the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock valued at $122,000 after purchasing an additional 68 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Down 4.2%

SNOW stock opened at $265.59 on Wednesday. The stock’s fifty day simple moving average is $238.30 and its two-hundred day simple moving average is $212.94. 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 Inc. has a 1-year low of $113.65 and a 1-year high of $280.67. The stock has a market cap of $89.98 billion, a P/E ratio of -64.00 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 return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was up 31.8% on a year-over-year basis. Analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total value of $2,777,300.00. Following the completion of the transaction, the executive vice president owned 522,450 shares in the company, valued at $145,100,038.50. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 1,658 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $225.25, for a total value of $373,464.50. Following the completion of the transaction, the chief accounting officer owned 31,745 shares of the company’s stock, valued at approximately $7,150,561.25. The trade was a 4.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 880,647 shares of company stock valued at $203,522,973. 6.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lifted their target price on Snowflake from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. DA Davidson restated a “buy” rating and set a $250.00 price objective on shares of Snowflake in a report on Monday, August 25th. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, August 28th. Morgan Stanley boosted their price objective on Snowflake from $262.00 to $272.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Royal Bank Of Canada lifted their target price on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $258.95.

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.