Titleist Asset Management LLC Takes $253,000 Position in Snowflake Inc. $SNOW

Titleist Asset Management LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,131 shares of the company’s stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC bought a new stake in Snowflake during the 2nd quarter valued at $3,900,134,000. Nuveen LLC bought a new position in shares of Snowflake during the 1st quarter worth $555,847,000. AQR Capital Management LLC increased its stake in shares of Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after buying an additional 2,460,769 shares during the period. Jennison Associates LLC increased its stake in shares of Snowflake by 20.5% during the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock valued at $1,790,309,000 after buying an additional 1,363,389 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after acquiring an additional 763,673 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNOW. Wells Fargo & Company began coverage on shares of Snowflake in a report on Tuesday, September 30th. They set an “overweight” rating and a $275.00 target price on the stock. Sanford C. Bernstein upped their price target on shares of Snowflake from $191.00 to $221.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Cantor Fitzgerald increased their price objective on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a report on Thursday, August 28th. Finally, Truist Financial boosted their price objective on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $267.25.

Snowflake Trading Down 4.2%

NYSE SNOW opened at $234.37 on Monday. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The company has a 50 day moving average price of $246.37 and a 200 day moving average price of $222.07. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a market cap of $79.40 billion, a PE ratio of -56.47 and a beta of 1.23.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share 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 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%. Snowflake’s revenue was up 31.8% compared to the same quarter last year. During the same period last year, the firm earned $0.18 earnings per share. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the transaction, the executive vice president directly owned 522,450 shares in the company, valued at $145,100,038.50. The trade was a 1.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $257.29, for a total value of $103,687.87. Following the transaction, the director directly owned 24,927 shares in the company, valued at $6,413,467.83. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 931,388 shares of company stock valued at $216,578,628 in the last quarter. 6.80% of the stock is currently owned by corporate insiders.

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.