Resources Management Corp CT ADV Increases Position in Snowflake Inc. (NYSE:SNOW)

Resources Management Corp CT ADV raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 41.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,673 shares of the company’s stock after buying an additional 2,259 shares during the period. Resources Management Corp CT ADV’s holdings in Snowflake were worth $1,037,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SNOW. Dimensional Fund Advisors LP boosted its position in shares of Snowflake by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock valued at $39,697,000 after buying an additional 10,575 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Snowflake by 18.1% in the fourth quarter. D.A. Davidson & CO. now owns 4,847 shares of the company’s stock valued at $965,000 after purchasing an additional 744 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Snowflake by 14.1% in the fourth quarter. Corient Private Wealth LLC now owns 18,904 shares of the company’s stock valued at $3,762,000 after purchasing an additional 2,332 shares during the period. Assetmark Inc. boosted its holdings in shares of Snowflake by 13.8% in the fourth quarter. Assetmark Inc. now owns 2,858 shares of the company’s stock valued at $569,000 after purchasing an additional 346 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Snowflake by 50.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 357 shares of the company’s stock valued at $71,000 after purchasing an additional 119 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $113.25 on Tuesday. The firm has a market capitalization of $37.92 billion, a PE ratio of -40.45 and a beta of 0.83. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The company’s fifty day moving average price is $120.46 and its 200-day moving average price is $138.78.

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

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the sale, the director now directly owns 4,247 shares of the company’s stock, valued at $607,236.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Frank Slootman sold 1,606 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Teresa Briggs sold 848 shares of the 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 sale, the director now directly owns 4,247 shares in the company, valued at $607,236.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,083 shares of company stock valued at $6,089,392. 7.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and boosted their price target for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. UBS Group lowered their price target on Snowflake from $171.00 to $155.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Piper Sandler reissued an “overweight” rating and issued a $165.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. Finally, Barclays reduced their price objective on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $176.03.

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.