3,632 Shares in Snowflake Inc. $SNOW Acquired by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC acquired 3,632 shares of Snowflake Inc., valued at approximately $813,000, marking a significant investment in the firm during Q2.
• Snowflake's stock price is currently down 2.4% at $241.39, with a 1-year range of $113.23 to $255.39, and the company has a market capitalization of $81.78 billion.
• Recent earnings reports show Snowflake exceeded analysts' EPS expectations, reporting $0.35 EPS versus an estimate of $0.27, with revenue increasing by 31.8% year-over-year.

NorthRock Partners LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,632 shares of the company's stock, valued at approximately $813,000.

Other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH acquired a new position in Snowflake during the 2nd quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Snowflake during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC increased its position in Snowflake by 748.0% during the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company's stock worth $31,000 after purchasing an additional 187 shares in the last quarter. HighMark Wealth Management LLC increased its position in Snowflake by 200.0% during the 2nd quarter. HighMark Wealth Management LLC now owns 225 shares of the company's stock worth $50,000 after purchasing an additional 150 shares in the last quarter. Finally, Raleigh Capital Management Inc. acquired a new position in Snowflake in the 2nd quarter valued at approximately $53,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Down 2.4%

Snowflake stock opened at $241.39 on Wednesday. Snowflake Inc. has a 1-year low of $113.23 and a 1-year high of $255.39. The firm has a market capitalization of $81.78 billion, a price-to-earnings ratio of -58.17 and a beta of 1.21. The firm's fifty day moving average price is $220.13 and its two-hundred day moving average price is $200.07. 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 (NYSE:SNOW - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the firm earned $0.18 earnings per share. The business's quarterly revenue was up 31.8% compared to the same quarter last year. On average, equities research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the transaction, the director directly owned 165,507 shares of the company's stock, valued at approximately $38,144,398.29. This trade represents a 81.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,182,434 shares of company stock valued at $270,280,661 over the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SNOW has been the subject of several recent research reports. Bank of America upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and upped their price target for the company from $220.00 to $240.00 in a research report on Wednesday, August 20th. Morgan Stanley upped their price target 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. Jefferies Financial Group upped their price target on shares of Snowflake from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. KeyCorp upped their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Finally, Truist Financial upped their price target on shares of Snowflake from $235.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. 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 three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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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