Waterloo Capital L.P. Buys New Shares in Snowflake Inc. $SNOW

Waterloo Capital L.P. purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,416 shares of the company’s stock, valued at approximately $541,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new position in shares of Snowflake during the 2nd quarter valued at about $3,900,134,000. Nuveen LLC purchased a new position in shares of Snowflake during the first quarter worth approximately $555,847,000. AQR Capital Management LLC raised 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 worth $456,430,000 after acquiring an additional 2,460,769 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Snowflake by 20.5% in the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after acquiring an additional 1,363,389 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after purchasing an additional 763,673 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. UBS Group lifted their target price on shares of Snowflake from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Needham & Company LLC lifted their price objective on Snowflake from $230.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Canaccord Genuity Group boosted their target price on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Piper Sandler raised their price target on Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Finally, The Goldman Sachs Group lifted their price target on Snowflake from $230.00 to $260.00 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $267.25.

Snowflake Stock Performance

Shares of SNOW stock opened at $242.54 on Tuesday. The firm has a market capitalization of $82.17 billion, a price-to-earnings ratio of -58.44 and a beta of 1.23. The stock has a fifty day moving average of $246.71 and a 200 day moving average of $222.55. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96.

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

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the transaction, the executive vice president owned 527,336 shares of the company’s stock, valued at approximately $123,132,956. This trade represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 931,388 shares of company stock worth $216,578,628 in the last ninety days. 6.80% of the stock is owned by company 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.