Sicart Associates LLC Buys Shares of 1,006 Snowflake Inc. $SNOW

Sicart Associates LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,006 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake in the 1st quarter worth approximately $26,000. CVA Family Office LLC grew its position in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after buying an additional 88 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Snowflake by 748.0% in the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock worth $31,000 after buying an additional 187 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Snowflake in the 2nd quarter worth approximately $53,000. Finally, Tradewinds Capital Management LLC grew its position in shares of Snowflake by 53.1% in the 1st quarter. Tradewinds Capital Management LLC now owns 245 shares of the company’s stock worth $36,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $225.60 on Wednesday. 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 12 month low of $108.71 and a 12 month high of $249.99. The company has a 50 day simple moving average of $214.75 and a two-hundred day simple moving average of $194.23. The stock has a market cap of $76.43 billion, a price-to-earnings ratio of -54.36 and a beta of 1.22.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating 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 analysts’ expectations of $1.09 billion. During the same period in the previous year, the business posted $0.18 EPS. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. As a group, analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SNOW shares. DA Davidson reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Snowflake in a research report on Monday, August 25th. Evercore ISI lifted their target price on shares of Snowflake from $240.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Canaccord Genuity Group lifted their target price on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Rosenblatt Securities lifted their target price on shares of Snowflake from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Citigroup reiterated an “outperform” rating on shares of Snowflake in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.53.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 2,611 shares of Snowflake stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $230.48, for a total transaction of $601,783.28. Following the completion of the sale, the executive vice president directly owned 542,450 shares in the company, valued at approximately $125,023,876. The trade was a 0.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Emily Ho sold 1,658 shares of Snowflake stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $225.25, for a total transaction of $373,464.50. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,759,924 shares of company stock valued at $397,943,442. 6.80% of the stock is currently owned by insiders.

About Snowflake

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.