Cwm LLC Grows Stock Position in Snowflake Inc. $SNOW

Cwm LLC boosted its position in Snowflake Inc. (NYSE:SNOW) by 9.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 216,212 shares of the company’s stock after buying an additional 17,868 shares during the quarter. Cwm LLC’s holdings in Snowflake were worth $48,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. OFI Invest Asset Management increased its position in Snowflake by 3.9% in the second quarter. OFI Invest Asset Management now owns 6,508 shares of the company’s stock worth $1,456,000 after buying an additional 245 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in Snowflake in the second quarter worth $27,357,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Snowflake by 21.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,151 shares of the company’s stock worth $5,628,000 after acquiring an additional 4,415 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Snowflake by 64.2% in the second quarter. Concurrent Investment Advisors LLC now owns 3,901 shares of the company’s stock worth $873,000 after acquiring an additional 1,525 shares during the period. Finally, Johnson Investment Counsel Inc. bought a new position in shares of Snowflake in the second quarter worth $262,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

NYSE:SNOW opened at $242.52 on Friday. The firm has a market capitalization of $82.17 billion, a price-to-earnings ratio of -58.44 and a beta of 1.21. Snowflake Inc. has a 52-week low of $113.23 and a 52-week high of $255.39. The stock has a fifty day moving average of $218.64 and a 200 day moving average of $198.82. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The firm’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. On average, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Activity

In other Snowflake news, Director Michael L. Speiser sold 2,976 shares of Snowflake stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $236.01, for a total transaction of $702,365.76. Following the completion of the sale, the director owned 34,436 shares of the company’s stock, valued at $8,127,240.36. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the sale, the senior vice president directly owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. This trade represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,182,434 shares of company stock valued at $270,280,661. 6.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Evercore ISI raised their price target on Snowflake from $240.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Oppenheimer raised their price target on Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Monness Crespi & Hardt raised their price target on Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Cowen reaffirmed a “buy” rating on shares of Snowflake in a report on Thursday, August 28th. Finally, Morgan Stanley raised their price target on Snowflake from $262.00 to $272.00 and gave the stock an “overweight” rating in a report 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $256.18.

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.