Signaturefd LLC Buys 633 Shares of Snowflake Inc. $SNOW

Signaturefd LLC increased its stake in Snowflake Inc. (NYSE:SNOW) by 21.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,551 shares of the company’s stock after acquiring an additional 633 shares during the period. Signaturefd LLC’s holdings in Snowflake were worth $795,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Beaumont Financial Advisors LLC bought a new position in Snowflake during the 2nd quarter valued at approximately $201,000. CX Institutional raised its position in Snowflake by 31.0% during the 2nd quarter. CX Institutional now owns 372 shares of the company’s stock valued at $83,000 after purchasing an additional 88 shares during the last quarter. Morangie Management LLC raised its position in Snowflake by 47.1% during the 2nd quarter. Morangie Management LLC now owns 12,501 shares of the company’s stock valued at $2,797,000 after purchasing an additional 4,004 shares during the last quarter. Dakota Wealth Management raised its position in Snowflake by 8.3% during the 2nd quarter. Dakota Wealth Management now owns 28,148 shares of the company’s stock valued at $6,299,000 after purchasing an additional 2,168 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its position in Snowflake by 18.2% during the 2nd quarter. Perigon Wealth Management LLC now owns 8,367 shares of the company’s stock valued at $1,872,000 after purchasing an additional 1,287 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 0.5%

SNOW stock opened at $225.76 on Tuesday. Snowflake Inc. has a fifty-two week low of $108.71 and a fifty-two week high of $249.99. The business’s 50 day moving average price is $214.49 and its two-hundred day moving average price is $194.01. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $76.49 billion, a price-to-earnings ratio of -54.40 and a beta of 1.22.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.08. The company 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 firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. As a group, analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 2,611 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $230.48, for a total value of $601,783.28. Following the sale, the executive vice president owned 542,450 shares in the company, valued at $125,023,876. This represents a 0.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $224.84, for a total value of $90,610.52. Following the completion of the sale, the director owned 25,733 shares in the company, valued at $5,785,807.72. The trade was a 1.54% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,947,739 shares of company stock worth $438,614,781. 6.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Jefferies Financial Group upped their price target on Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Piper Sandler upped their price target on Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. UBS Group upped their price target on Snowflake from $250.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, Rosenblatt Securities upped their price target on Snowflake from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.53.

Snowflake 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.