AlTi Global Inc. Has $3.25 Million Position in Snowflake Inc. $SNOW

Key Points

• AlTi Global Inc. reduced its holdings in Snowflake Inc. by 5.8% in the first quarter, leaving it with 22,217 shares valued at approximately $3.25 million.
• Multiple institutional investors have increased their stakes in Snowflake, with Goldman Sachs raising its holdings by 22.2% and Berkshire Capital Holdings significantly increasing its position by 71,500% during the same period.
• Analysts have a consensus rating of "Moderate Buy" for Snowflake, with price targets ranging from $240 to $275, indicating optimism about the company's future performance.

AlTi Global Inc. lowered its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,217 shares of the company's stock after selling 1,362 shares during the quarter. AlTi Global Inc.'s holdings in Snowflake were worth $3,247,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. grew 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. CenterBook Partners LP bought a new stake in Snowflake during the first quarter worth $2,381,000. Berkshire Capital Holdings Inc. grew its holdings in Snowflake by 71,500.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company's stock worth $1,047,000 after buying an additional 7,150 shares in the last quarter. Lyell Wealth Management LP grew its holdings in Snowflake by 5.1% during the first quarter. Lyell Wealth Management LP now owns 60,685 shares of the company's stock worth $8,870,000 after buying an additional 2,955 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Snowflake in the 1st quarter valued at $898,000. Institutional investors own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNOW. Oppenheimer upped their price objective on Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a research note 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 note on Thursday, August 28th. Bank of America upgraded Snowflake from a "neutral" rating to a "buy" rating and upped their price objective for the company from $220.00 to $240.00 in a research note on Wednesday, August 20th. 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. Finally, 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. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.53.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 710,083 shares of the firm's stock in a transaction that occurred on 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 directly owned 165,507 shares in the company, valued at $38,144,398.29. This trade represents a 81.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 3,216,909 shares of company stock worth $717,287,181. 6.80% of the stock is owned by company insiders.

Snowflake Stock Performance

NYSE:SNOW opened at $233.62 on Wednesday. The business's 50-day moving average price is $212.12 and its two-hundred day moving average price is $186.53. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $249.99. The stock has a market cap of $78.00 billion, a P/E ratio of -56.29 and a beta of 1.22. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 41.42% and a negative net margin of 33.53%.The company's revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. As a group, equities analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Snowflake Company 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.

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