Mirador Capital Partners LP Acquires 25,179 Shares of Snowflake Inc. (NYSE:SNOW)

Mirador Capital Partners LP lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 1,324.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,080 shares of the company’s stock after buying an additional 25,179 shares during the period. Mirador Capital Partners LP’s holdings in Snowflake were worth $3,110,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Park Avenue Securities LLC raised its holdings in shares of Snowflake by 0.5% during the first quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock valued at $2,179,000 after purchasing an additional 70 shares during the last quarter. Covestor Ltd boosted its stake in shares of Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after buying an additional 70 shares during the last quarter. IAM Advisory LLC grew its holdings in shares of Snowflake by 2.0% in the first quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after acquiring an additional 74 shares during the period. Joseph P. Lucia & Associates LLC increased its position in Snowflake by 2.6% during the first quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock valued at $478,000 after acquiring an additional 75 shares during the last quarter. Finally, Peterson Wealth Management lifted its holdings in Snowflake by 1.5% in the fourth quarter. Peterson Wealth Management now owns 5,576 shares of the company’s stock valued at $1,110,000 after acquiring an additional 81 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SNOW shares. Canaccord Genuity Group lowered their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Barclays decreased their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Piper Sandler reissued an “overweight” rating and set a $165.00 price objective on shares of Snowflake in a research report on Thursday, August 22nd. Argus began coverage on Snowflake in a report on Tuesday. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group cut their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.74.

Insider Activity

In related news, Director Frank Slootman sold 1,606 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Snowflake news, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,538 shares of company stock valued at $3,449,994. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Snowflake stock traded up $4.25 during mid-day trading on Friday, hitting $114.72. The company’s stock had a trading volume of 6,289,612 shares, compared to its average volume of 7,296,721. The company has a 50 day moving average of $117.12 and a 200-day moving average of $136.09. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for 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 firm’s revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.52) EPS. As a group, analysts expect that Snowflake Inc. will post -2.41 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.