Montag A & Associates Inc. Grows Stake in Snowflake Inc. $SNOW

Montag A & Associates Inc. lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 234.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 291 shares of the company’s stock after acquiring an additional 204 shares during the period. Montag A & Associates Inc.’s holdings in Snowflake were worth $65,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock valued at $3,974,705,000 after purchasing an additional 316,573 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snowflake during the 2nd quarter worth approximately $3,900,134,000. Jennison Associates LLC boosted its holdings in shares of Snowflake by 20.5% in the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock valued at $1,790,309,000 after buying an additional 1,363,389 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after buying an additional 763,673 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Snowflake during the 1st quarter worth $555,847,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNOW. Mizuho raised their price objective on Snowflake from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Raymond James Financial upped their target price on Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Canaccord Genuity Group lifted their price target on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Bank of America raised Snowflake from a “neutral” rating to a “buy” rating and increased their price objective for the company from $220.00 to $240.00 in a report on Wednesday, August 20th. Finally, JMP Securities raised their target price on shares of Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $259.89.

Snowflake Price Performance

Snowflake stock opened at $257.15 on Friday. The business has a 50 day simple moving average of $243.42 and a 200-day simple moving average of $217.75. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. 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 $87.12 billion, a PE ratio of -61.96 and a beta of 1.23.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company posted $0.18 EPS. Snowflake’s revenue was up 31.8% compared to the same quarter last year. Equities analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insiders Place Their Bets

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president directly owned 241,854 shares in the company, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $257.29, for a total transaction of $103,687.87. Following the completion of the transaction, the director directly owned 24,927 shares of the company’s stock, valued at approximately $6,413,467.83. This trade represents a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 931,388 shares of company stock worth $216,578,628. Corporate insiders own 6.80% 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.