Global Retirement Partners LLC Purchases New Stake in Snowflake Inc. $SNOW

Global Retirement Partners LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,400 shares of the company’s stock, valued at approximately $2,327,000.

Several other hedge funds have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH acquired a new stake in shares of Snowflake during the 2nd quarter worth approximately $25,000. Avion Wealth raised its position in Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares in the last quarter. Rossby Financial LCC lifted its stake in Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 127 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Snowflake by 417.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Activity at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the company’s 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 owned 241,854 shares in the company, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the 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 completion of the sale, the director directly owned 24,927 shares of the company’s stock, valued at approximately $6,413,467.83. The trade was a 1.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 931,388 shares of company stock worth $216,578,628 over the last three months. Company insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of a number of research analyst reports. Wells Fargo & Company assumed coverage on Snowflake in a report on Tuesday, September 30th. They set an “overweight” rating and a $275.00 price target for the company. Cowen reissued a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Mizuho raised their price target on shares of Snowflake from $260.00 to $285.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. KeyCorp lifted their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Royal Bank Of Canada increased their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $267.25.

Snowflake Stock Up 3.4%

NYSE:SNOW opened at $250.31 on Wednesday. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67. 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 $84.80 billion, a PE ratio of -60.31 and a beta of 1.23. The firm’s 50 day simple moving average is $247.39 and its 200 day simple moving average is $223.09.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results 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 firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company’s revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. On average, research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Snowflake Company 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.