ORG Partners LLC Has $387,000 Stake in Snowflake Inc. $SNOW

ORG Partners LLC lessened its position in Snowflake Inc. (NYSE:SNOW) by 14.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,791 shares of the company’s stock after selling 294 shares during the quarter. ORG Partners LLC’s holdings in Snowflake were worth $387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SNOW. Goldman Sachs Group Inc. increased its holdings in shares of Snowflake by 22.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock worth $524,293,000 after buying an additional 650,775 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Snowflake during the first quarter valued at about $2,381,000. Berkshire Capital Holdings Inc. grew its holdings in Snowflake by 71,500.0% during the 1st quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company’s stock worth $1,047,000 after acquiring an additional 7,150 shares in the last quarter. Lyell Wealth Management LP raised its position in Snowflake by 5.1% in the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company’s stock valued at $8,870,000 after purchasing an additional 2,955 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Snowflake in the 1st quarter valued at about $898,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 1.4%

SNOW opened at $224.64 on Friday. 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 firm has a market capitalization of $76.11 billion, a price-to-earnings ratio of -54.13 and a beta of 1.22. The business has a 50 day simple moving average of $214.29 and a two-hundred day simple moving average of $193.22. Snowflake Inc. has a one year low of $108.71 and a one year high of $249.99.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 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 business posted $0.18 EPS. Snowflake’s revenue for the quarter was up 31.8% compared to the same quarter last year. Analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $221.47, for a total value of $11,148,356.86. Following the transaction, the director directly owned 36,956 shares of the company’s stock, valued at $8,184,645.32. This trade represents a 57.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares of the company’s stock, valued at approximately $38,144,398.29. The trade was a 81.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,469,296 shares of company stock valued at $553,371,035 over the last three months. 6.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

SNOW has been the subject of a number of research analyst reports. KeyCorp lifted their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Morgan Stanley increased their price objective on Snowflake from $262.00 to $272.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Barclays lifted their price objective on Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Truist Financial lifted their price objective on Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Piper Sandler raised their target price on Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $255.53.

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.