Snowflake Inc. (NYSE:SNOW) Shares Purchased by Quantum Private Wealth LLC

Quantum Private Wealth LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 35.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,003 shares of the company’s stock after acquiring an additional 3,655 shares during the quarter. Quantum Private Wealth LLC’s holdings in Snowflake were worth $1,608,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. LRI Investments LLC increased its holdings in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake during the 2nd quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNOW. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $119.00 to $121.00 in a research note on Friday, August 23rd. UBS Group dropped their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Argus began coverage on shares of Snowflake in a research note on Tuesday, October 1st. They set a “hold” rating on the stock. Finally, Jefferies Financial Group dropped their price objective on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.17.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Benoit Dageville sold 287 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Down 1.7 %

Shares of SNOW stock opened at $121.46 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The firm’s 50-day moving average is $114.83 and its two-hundred day moving average is $129.88.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.52) EPS. As a group, equities analysts predict that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

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.