Silicon Valley Capital Partners Purchases 8,208 Shares of Snowflake Inc. $SNOW

Silicon Valley Capital Partners boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 15.2% in the second quarter, Holdings Channel reports. The fund owned 62,087 shares of the company’s stock after acquiring an additional 8,208 shares during the period. Snowflake accounts for 1.4% of Silicon Valley Capital Partners’ investment portfolio, making the stock its 21st biggest holding. Silicon Valley Capital Partners’ holdings in Snowflake were worth $15,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its stake in shares of Snowflake by 15.6% in the second quarter. Parkside Financial Bank & Trust now owns 334 shares of the company’s stock worth $85,000 after purchasing an additional 45 shares during the period. Tsfg LLC boosted its stake in Snowflake by 27.8% during the 2nd quarter. Tsfg LLC now owns 230 shares of the company’s stock valued at $59,000 after purchasing an additional 50 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in Snowflake by 4.1% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,640 shares of the company’s stock valued at $417,000 after purchasing an additional 65 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in Snowflake by 0.5% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 13,682 shares of the company’s stock valued at $3,482,000 after buying an additional 66 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Snowflake by 2.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,665 shares of the company’s stock valued at $585,000 after buying an additional 67 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Vivek Raghunathan sold 3,876 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $318.51, for a total value of $1,234,544.76. Following the sale, the senior vice president owned 240,453 shares of the company’s stock, valued at $76,586,685.03. The trade was a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Frank Slootman sold 8,191 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $318.51, for a total transaction of $2,608,915.41. Following the transaction, the director owned 19,024 shares of the company’s stock, valued at approximately $6,059,334.24. This represents a 30.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,035,720 shares of company stock valued at $312,258,835 over the last 90 days. Company insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on SNOW shares. Wedbush upped their price target on Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. raised their price objective on shares of Snowflake from $285.00 to $426.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Truist Financial set a $425.00 target price on shares of Snowflake and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Jefferies Financial Group set a $430.00 target price on shares of Snowflake and gave the company a “buy” rating in a research note on Thursday, September 3rd. Finally, Morgan Stanley increased their price target on shares of Snowflake from $300.00 to $470.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Thirty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.24.

Snowflake Stock Performance

SNOW traded up $5.09 during trading on Monday, reaching $337.52. 3,689,930 shares of the company’s stock were exchanged, compared to its average volume of 6,710,785. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $384.56. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06. The business has a 50 day moving average price of $311.99 and a 200 day moving average price of $231.94. The company has a market capitalization of $119.08 billion, a P/E ratio of -106.14 and a beta of 1.33.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business’s revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 EPS. As a group, analysts predict that Snowflake Inc. will post -1.57 earnings per share for the current fiscal year.

About Snowflake

Snowflake Inc (NYSE: SNOW) is a cloud-based data platform company that helps organizations store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and business intelligence across public cloud environments.

Snowflake’s Data Cloud enables customers to consolidate and access structured, semi-structured and unstructured data while supporting secure data sharing and collaboration. Its offerings include Snowflake Cortex, which provides artificial intelligence and machine-learning capabilities, as well as tools for developing data applications and using data from Snowflake’s marketplace and partner ecosystem.

Founded in 2012, Snowflake serves businesses, government organizations and other institutions globally through cloud infrastructure provided by major public-cloud platforms.