1,523 Shares in Snowflake Inc. $SNOW Purchased by Vigilare Wealth Management

Key Points

• Vigilare Wealth Management acquired 1,523 shares of Snowflake Inc. during the second quarter, valued at approximately $341,000, as reported in its Form 13F filing.
• Insider transactions revealed that Director Michael L. Speiser sold 50,338 shares, significantly reducing his position by 57.66%, while EVP Christian Kleinerman sold 10,000 shares, marking a 1.83% decrease in their ownership.
• Snowflake Inc. reported earnings of $0.35 per share for the last quarter, exceeding analyst expectations, with revenue reaching $1.14 billion, reflecting a year-over-year increase of 31.8%.

Vigilare Wealth Management acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,523 shares of the company's stock, valued at approximately $341,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Snowflake by 1.2% during the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock worth $3,974,705,000 after buying an additional 316,573 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Snowflake during the second quarter worth about $3,900,134,000. Price T Rowe Associates Inc. MD boosted its holdings in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock worth $691,693,000 after buying an additional 763,673 shares in the last quarter. Nuveen LLC purchased a new stake in Snowflake during the first quarter worth about $555,847,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Snowflake by 22.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after buying an additional 650,775 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $221.47, for a total value of $11,148,356.86. Following the transaction, the director owned 36,956 shares of the company's stock, valued at $8,184,645.32. The trade was a 57.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $216.00, for a total transaction of $2,160,000.00. Following the completion of the transaction, the executive vice president directly owned 537,336 shares in the company, valued at $116,064,576. This represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,759,924 shares of company stock valued at $397,943,442 in the last quarter. Insiders own 6.80% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on SNOW shares. Stephens started coverage on shares of Snowflake in a report on Friday, July 18th. They issued an "overweight" rating and a $261.00 price target on the stock. Evercore ISI upped their target price on shares of Snowflake from $240.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. CICC Research assumed coverage on shares of Snowflake in a research note on Friday, June 20th. They set an "outperform" rating and a $225.00 price objective on the stock. Cantor Fitzgerald raised their price target on shares of Snowflake from $242.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Finally, JMP Securities restated a "market outperform" rating and issued a $260.00 price target on shares of Snowflake in a research report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Snowflake has an average rating of "Moderate Buy" and an average target price of $255.53.

Snowflake Stock Up 0.2%

Snowflake stock opened at $225.60 on Wednesday. The stock has a market cap of $76.43 billion, a price-to-earnings ratio of -54.36 and a beta of 1.22. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The company's 50-day moving average price is $214.75 and its two-hundred day moving average price is $194.23. Snowflake Inc. has a 52 week low of $108.71 and a 52 week high of $249.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) 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 analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. On average, analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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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