Reliant Investment Partners LLC Buys Shares of 4,165 Snowflake Inc. $SNOW

Reliant Investment Partners LLC bought a new position in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,165 shares of the company’s stock, valued at approximately $932,000. Snowflake makes up about 0.8% of Reliant Investment Partners LLC’s portfolio, making the stock its 26th largest holding.

Several other hedge funds also recently modified their holdings of the business. Trust Co. of Toledo NA OH acquired a new position in Snowflake during the second quarter worth $25,000. Avion Wealth boosted its stake in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 49 shares in the last quarter. Rossby Financial LCC boosted its stake in shares of Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 127 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Snowflake by 149.1% during the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after acquiring an additional 82 shares during the last quarter. Finally, LGT Financial Advisors LLC bought a new position in shares of Snowflake in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was 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 $38,144,398.29. This represents a 81.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $10,505,037.22. Following the sale, the director directly owned 36,116 shares in the company, valued at $7,537,048.04. The trade was a 58.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,182,434 shares of company stock valued at $270,280,661. 6.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SNOW shares. UBS Group upped their target price on Snowflake from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. BTIG Research upped their price objective on shares of Snowflake from $235.00 to $276.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Cowen reiterated a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Snowflake in a research report on Wednesday, October 8th. Finally, Truist Financial upped their price target on shares of Snowflake from $235.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $257.24.

Snowflake Price Performance

Shares of Snowflake stock opened at $266.48 on Tuesday. 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 company has a market cap of $90.28 billion, a PE ratio of -64.21 and a beta of 1.21. The firm has a fifty day moving average price of $229.15 and a two-hundred day moving average price of $207.17. Snowflake Inc. has a fifty-two week low of $113.23 and a fifty-two week high of $267.80.

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, topping the consensus estimate of $0.27 by $0.08. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business’s revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 EPS. Analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

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.