Brown Miller Wealth Management LLC Acquires 272 Shares of Snowflake Inc. $SNOW

Brown Miller Wealth Management LLC increased its holdings in Snowflake Inc. (NYSE:SNOW) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,437 shares of the company’s stock after purchasing an additional 272 shares during the period. Brown Miller Wealth Management LLC’s holdings in Snowflake were worth $1,440,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC bought a new stake in shares of Snowflake in the 2nd quarter valued at approximately $3,900,134,000. Nuveen LLC bought a new stake in Snowflake in the first quarter valued at $555,847,000. AQR Capital Management LLC grew its position in Snowflake by 346.2% in the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after acquiring an additional 2,460,769 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after acquiring an additional 763,673 shares in the last quarter. Finally, Amundi raised its stake in Snowflake by 72.7% during the first quarter. Amundi now owns 1,808,250 shares of the company’s stock worth $252,974,000 after acquiring an additional 760,923 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW opened at $235.42 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $79.76 billion, a P/E ratio of -56.73 and a beta of 1.21. The company’s 50 day simple moving average is $215.94 and its 200-day simple moving average is $195.89. Snowflake Inc. has a one year low of $111.15 and a one year high of $249.99.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. Sell-side analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In related news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total value of $2,335,000.00. Following the sale, the executive vice president directly owned 527,336 shares of the company’s stock, valued at $123,132,956. This represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,601,630 shares of company stock worth $362,990,571 in the last ninety days. 6.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SNOW has been the topic of several recent analyst reports. Guggenheim restated a “neutral” rating on shares of Snowflake in a research note on Thursday, August 28th. Cantor Fitzgerald lifted their price target on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Scotiabank boosted their price target on shares of Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Stephens started coverage on shares of Snowflake in a report on Friday, July 18th. They set an “overweight” rating and a $261.00 price objective for the company. Finally, Royal Bank Of Canada lifted their target price on shares of Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.53.

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.