Olympiad Research LP Makes New Investment in Snowflake Inc. $SNOW

Olympiad Research LP acquired a new position in Snowflake Inc. (NYSE:SNOW) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,754 shares of the company’s stock, valued at approximately $392,000. Snowflake accounts for 0.6% of Olympiad Research LP’s investment portfolio, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its position in Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Ballentine Partners LLC grew its stake in Snowflake by 38.5% during the first quarter. Ballentine Partners LLC now owns 1,866 shares of the company’s stock worth $273,000 after buying an additional 519 shares during the period. Signaturefd LLC increased its position in shares of Snowflake by 20.8% in the first quarter. Signaturefd LLC now owns 2,918 shares of the company’s stock worth $426,000 after acquiring an additional 502 shares in the last quarter. Sigma Planning Corp raised its stake in shares of Snowflake by 32.9% in the 1st quarter. Sigma Planning Corp now owns 2,647 shares of the company’s stock valued at $387,000 after acquiring an additional 655 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in shares of Snowflake by 12.9% in the 1st quarter. Apollon Wealth Management LLC now owns 10,666 shares of the company’s stock valued at $1,559,000 after acquiring an additional 1,219 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of NYSE SNOW opened at $257.15 on Friday. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The firm has a market capitalization of $87.12 billion, a PE ratio of -61.96 and a beta of 1.23. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The business’s fifty day moving average price is $243.42 and its two-hundred day moving average price is $217.75.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 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 business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was up 31.8% on a year-over-year basis. On average, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Analysts Set New Price Targets

SNOW has been the subject of a number of research reports. Bank of America raised shares of Snowflake from a “neutral” rating to a “buy” rating and upped their price target for the stock from $220.00 to $240.00 in a research report on Wednesday, August 20th. Needham & Company LLC raised their target price on Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. JMP Securities boosted their price target on Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 28th. Piper Sandler increased their price target on Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Canaccord Genuity Group upped their price objective on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $259.89.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the transaction, the executive vice president owned 522,450 shares of the company’s stock, valued at approximately $145,100,038.50. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $257.29, for a total transaction of $103,687.87. Following the sale, the director owned 24,927 shares in the company, valued at $6,413,467.83. This trade represents a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 931,388 shares of company stock worth $216,578,628 in the last three months. 6.80% of the stock is owned by company insiders.

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.