Carmel Capital Partners LLC Invests $235,000 in Snowflake Inc. $SNOW

Carmel Capital Partners LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,050 shares of the company’s stock, valued at approximately $235,000.

Several other institutional investors have also modified their holdings of SNOW. Trust Co. of Toledo NA OH bought a new position in shares of Snowflake during the second quarter worth about $25,000. Golden State Wealth Management LLC grew its position in shares of Snowflake by 748.0% during the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock worth $31,000 after acquiring an additional 187 shares during the last quarter. Tradewinds Capital Management LLC grew its position in shares of Snowflake by 53.1% during the first quarter. Tradewinds Capital Management LLC now owns 245 shares of the company’s stock worth $36,000 after acquiring an additional 85 shares during the last quarter. Alpine Bank Wealth Management bought a new position in shares of Snowflake during the first quarter worth about $43,000. Finally, MRP Capital Investments LLC bought a new position in shares of Snowflake during the first quarter worth about $44,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $240.68 on Friday. Snowflake Inc. has a twelve month low of $113.23 and a twelve month high of $255.39. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average of $222.38 and a 200-day moving average of $201.63. The firm has a market cap of $81.54 billion, a price-to-earnings ratio of -58.00 and a beta of 1.21.

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

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the sale, the executive vice president directly owned 527,336 shares of the company’s stock, valued at approximately $123,132,956. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 710,083 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the sale, the director directly owned 165,507 shares of the company’s stock, valued at $38,144,398.29. This represents a 81.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,182,434 shares of company stock worth $270,280,661. Company insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SNOW shares. Cowen reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Oppenheimer reiterated an “outperform” rating and issued a $295.00 target price on shares of Snowflake in a research report on Friday. Wells Fargo & Company started coverage on shares of Snowflake in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $275.00 target price for the company. DA Davidson reiterated a “buy” rating and issued a $250.00 target price on shares of Snowflake in a research report on Monday, August 25th. Finally, Wedbush increased their target price on shares of Snowflake from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Two research 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 given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $256.71.

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.