Snowflake Inc. $SNOW Stock Bought by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management increased its position in Snowflake Inc. (NYSE:SNOW) by 300.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,162 shares of the company’s stock after buying an additional 8,373 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Snowflake were worth $3,790,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Basecamp Wealth Advisors LLC raised its stake in shares of Snowflake by 140.5% during the first quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock worth $30,000 after acquiring an additional 118 shares in the last quarter. Emerald Advisers LLC lifted its holdings in shares of Snowflake by 95.2% in the 1st quarter. Emerald Advisers LLC now owns 205 shares of the company’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Reyes Financial Architecture Inc. purchased a new stake in shares of Snowflake in the 3rd quarter valued at $32,000. Mather Group LLC. boosted its stake in shares of Snowflake by 98.0% in the 3rd quarter. Mather Group LLC. now owns 101 shares of the company’s stock valued at $34,000 after purchasing an additional 50 shares in the last quarter. Finally, Ninety One UK Ltd bought a new position in shares of Snowflake during the 3rd quarter valued at $36,000. 65.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 300,000 shares of the company’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $316.43, for a total transaction of $94,929,000.00. Following the completion of the sale, the director owned 19,024 shares of the company’s stock, valued at $6,019,764.32. This represents a 94.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $325.00, for a total transaction of $8,125,000.00. Following the sale, the executive vice president directly owned 340,379 shares of the company’s stock, valued at approximately $110,623,175. This represents a 6.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,206,443 shares of company stock worth $396,866,828 in the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Snowflake Stock Down 5.3%

SNOW stock opened at $289.86 on Tuesday. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $384.56. The business’s 50 day moving average price is $331.03 and its two-hundred day moving average price is $240.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $102.26 billion, a price-to-earnings ratio of -91.15 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, analysts forecast that Snowflake Inc. will post -1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on SNOW shares. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Snowflake in a research report on Thursday, September 3rd. BTIG Research upped their price target on shares of Snowflake from $340.00 to $424.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Wells Fargo & Company raised their price objective on Snowflake from $500.00 to $525.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Cantor Fitzgerald lifted their price objective on Snowflake from $405.00 to $430.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Finally, Yorkville Ives initiated coverage on Snowflake in a research note on Monday, October 5th. They issued an “outperform” rating and a $400.00 target price for the company. Thirty-six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $413.87.

About Snowflake

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.