Stephens Inc. AR Grows Holdings in Snowflake Inc. $SNOW

Stephens Inc. AR lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 105.9% during the second quarter, Holdings Channel reports. The institutional investor owned 5,993 shares of the company’s stock after acquiring an additional 3,082 shares during the quarter. Stephens Inc. AR’s holdings in Snowflake were worth $1,341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Beverly Hills Private Wealth LLC grew its position in shares of Snowflake by 13.8% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 2,873 shares of the company’s stock worth $643,000 after buying an additional 348 shares during the period. Calamos Wealth Management LLC grew its position in shares of Snowflake by 2.7% in the 2nd quarter. Calamos Wealth Management LLC now owns 58,068 shares of the company’s stock worth $12,994,000 after buying an additional 1,508 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of Snowflake by 68.9% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 6,261 shares of the company’s stock worth $1,331,000 after buying an additional 2,554 shares during the period. Aspiriant LLC purchased a new stake in shares of Snowflake in the 2nd quarter worth about $201,000. Finally, Koshinski Asset Management Inc. grew its position in shares of Snowflake by 4.2% in the 2nd quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock worth $359,000 after buying an additional 64 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $252.91 on Friday. The firm’s 50-day moving average price is $226.60 and its 200-day moving average price is $204.62. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a market cap of $85.69 billion, a PE ratio of -60.94 and a beta of 1.21. Snowflake Inc. has a 52-week low of $113.23 and a 52-week high of $255.39.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 33.53% and a negative return on equity of 42.98%. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 EPS. As a group, analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNOW. Bank of America raised shares of Snowflake from a “neutral” rating to a “buy” rating and upped their target price for the stock from $220.00 to $240.00 in a research report on Wednesday, August 20th. Morgan Stanley increased their price objective on shares of Snowflake from $262.00 to $272.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. increased their price objective on shares of Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Citigroup reissued an “outperform” rating on shares of Snowflake in a research report on Thursday, August 28th. Finally, Cowen reissued a “buy” rating on shares of Snowflake in a research report 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 issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $257.24.

Insider Activity

In other news, CAO Emily Ho sold 1,658 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $225.25, for a total transaction of $373,464.50. Following the sale, the chief accounting officer owned 31,745 shares of the company’s stock, valued at $7,150,561.25. This trade represents a 4.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 7,551 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the sale, the director directly owned 153,226 shares in the company, valued at approximately $33,899,720.24. The trade was a 4.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,182,434 shares of company stock worth $270,280,661. 6.80% of the stock is owned by corporate insiders.

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.