Left Brain Wealth Management LLC Buys New Holdings in Snowflake Inc. $SNOW

Left Brain Wealth Management LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,417 shares of the company’s stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares during the last quarter. Wedbush Securities Inc. grew its position in shares of Snowflake by 31.0% during the first quarter. Wedbush Securities Inc. now owns 3,669 shares of the company’s stock worth $536,000 after acquiring an additional 869 shares during the last quarter. AE Wealth Management LLC purchased a new position in shares of Snowflake during the first quarter worth approximately $310,000. Brookwood Investment Group LLC acquired a new position in shares of Snowflake in the 1st quarter valued at $223,000. Finally, Cetera Investment Advisers raised its position in Snowflake by 18.1% in the 1st quarter. Cetera Investment Advisers now owns 91,002 shares of the company’s stock valued at $13,301,000 after purchasing an additional 13,927 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $234.37 on Friday. The business’s fifty day moving average price is $246.37 and its two-hundred day moving average price is $221.71. The stock has a market cap of $79.40 billion, a PE ratio of -56.47 and a beta of 1.23. 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 Inc. has a one year low of $120.10 and a one year high of $280.67.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SNOW shares. BTIG Research lifted their price objective on Snowflake from $276.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Citigroup reissued a “market outperform” rating on shares of Snowflake in a report on Tuesday, October 28th. DA Davidson reaffirmed a “buy” rating and set a $250.00 price objective on shares of Snowflake in a report on Monday, August 25th. Barclays raised their target price on Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Wedbush upped their price target on shares of Snowflake from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $266.42.

Insiders Place Their Bets

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president owned 241,854 shares of the company’s stock, valued at $53,986,649.88. This represents a 4.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $224.85, for a total value of $11,318,499.30. Following the sale, the director owned 35,276 shares in the company, valued at $7,931,808.60. This trade represents a 58.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 931,388 shares of company stock valued at $216,578,628. Insiders own 6.80% of the company’s stock.

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.