United Asset Strategies Inc. Acquires Shares of 3,660 Snowflake Inc. $SNOW

United Asset Strategies Inc. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,660 shares of the company’s stock, valued at approximately $819,000.

Several other large investors have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH purchased a new position in Snowflake during the 2nd quarter valued at approximately $25,000. Avion Wealth boosted its position in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 49 shares during the last quarter. Rossby Financial LCC grew its holdings in shares of Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 127 shares in the last quarter. Whittier Trust Co. increased its position in Snowflake by 149.1% in the second quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after purchasing an additional 82 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Snowflake by 417.2% during the second quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Performance

Shares of Snowflake stock opened at $269.36 on Thursday. 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 stock’s fifty day moving average is $242.71 and its two-hundred day moving average is $217.47. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The company has a market capitalization of $91.26 billion, a PE ratio of -64.91 and a beta of 1.23.

Snowflake (NYSE:SNOW) last issued its 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 during the quarter, compared to analyst estimates 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 revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 earnings per share. As a group, analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity

In related news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president owned 241,854 shares of the company’s stock, valued at $53,986,649.88. This 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 is available through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total value of $2,777,300.00. Following the transaction, the executive vice president owned 522,450 shares in the company, valued at $145,100,038.50. The trade was a 1.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 931,388 shares of company stock valued at $216,578,628. Corporate insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI lifted their price objective on shares of Snowflake from $240.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Cowen reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Royal Bank Of Canada upped their price objective on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Piper Sandler lifted their target price on Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Finally, Wedbush boosted their target price on Snowflake from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.89.

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.