Snowflake Inc. (NYSE:SNOW) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 11.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,311 shares of the company’s stock after acquiring an additional 4,196 shares during the quarter. Summit Trail Advisors LLC’s holdings in Snowflake were worth $5,311,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Snowflake by 1.4% during the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after acquiring an additional 297,428 shares during the period. Jennison Associates LLC raised its position in Snowflake by 3.7% during the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after buying an additional 249,249 shares during the period. Sands Capital Management LLC grew its position in Snowflake by 12.6% during the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after purchasing an additional 610,970 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of Snowflake by 0.6% in the first quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock worth $298,644,000 after acquiring an additional 11,677 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in Snowflake by 51.8% in the 4th quarter. 1832 Asset Management L.P. now owns 1,680,700 shares of the company’s stock worth $334,459,000 after purchasing an additional 573,400 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. DA Davidson cut their price target on shares of Snowflake from $230.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Needham & Company LLC decreased their price target on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. TD Cowen dropped their price objective on Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Canaccord Genuity Group decreased their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Scotiabank dropped their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

Snowflake Stock Down 3.3 %

Shares of Snowflake stock opened at $110.26 on Friday. The stock has a market cap of $36.96 billion, a PE ratio of -39.38 and a beta of 0.83. The business has a fifty day simple moving average of $120.87 and a 200 day simple moving average of $139.56. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.52) earnings per share. Analysts expect that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at $607,236.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snowflake news, Director Frank Slootman sold 6,251 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $715,051.89. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at $23,877,196.65. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the transaction, the director now owns 4,247 shares in the company, valued at $607,236.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 517,203 shares of company stock worth $63,833,373. Corporate insiders own 7.80% of the company’s stock.

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.