1,331 Shares in Snowflake Inc. $SNOW Bought by KRS Capital Management LLC

Key Points

• KRS Capital Management LLC acquired 1,331 shares of Snowflake Inc. valued at approximately $298,000 in the second quarter.
• Insider selling has been significant, with Director Frank Slootman selling 710,083 shares for over $163 million, reducing his stake by 81.1%.
• Snowflake's earnings for the recent quarter exceeded expectations, reporting $1.14 billion in revenue, a 31.8% increase year-over-year.

KRS Capital Management LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,331 shares of the company's stock, valued at approximately $298,000.

Other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Snowflake during the first quarter worth $26,000. CVA Family Office LLC raised its stake in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after acquiring an additional 88 shares in the last quarter. Golden State Wealth Management LLC raised its stake in 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 in the last quarter. HighMark Wealth Management LLC raised its stake in Snowflake by 200.0% during the second quarter. HighMark Wealth Management LLC now owns 225 shares of the company's stock worth $50,000 after acquiring an additional 150 shares in the last quarter. Finally, Raleigh Capital Management Inc. acquired a new position in Snowflake during the second quarter worth $53,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the transaction, the director owned 165,507 shares in the company, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $208.69, for a total value of $10,505,037.22. Following the transaction, the director owned 36,116 shares in the company, valued at $7,537,048.04. This trade represents a 58.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,177,434 shares of company stock worth $269,030,661. Company insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of SNOW opened at $250.70 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 1 year low of $113.23 and a 1 year high of $253.60. The stock has a market cap of $84.94 billion, a P/E ratio of -60.41 and a beta of 1.21. The stock's 50-day moving average price is $217.89 and its two-hundred day moving average price is $197.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company posted $0.18 EPS. Snowflake's revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNOW. Macquarie increased their price objective on Snowflake from $210.00 to $235.00 and gave the stock a "neutral" rating in a research note on Thursday, August 28th. The Goldman Sachs Group increased their target price on Snowflake from $230.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Robert W. Baird increased their target price on Snowflake from $215.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Guggenheim restated a "neutral" rating on shares of Snowflake in a report on Thursday, August 28th. Finally, Morgan Stanley increased their target price on Snowflake from $262.00 to $272.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and a consensus price target of $256.18.

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.

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