Chicago Partners Investment Group LLC Increases Holdings in Snowflake Inc. $SNOW

Key Points

• Chicago Partners Investment Group LLC increased its holdings in Snowflake Inc. by 68.9% in Q2, owning 6,261 shares valued at approximately $1.33 million.
• Multiple large institutional investors, including Goldman Sachs and Berkshire Capital Holdings, have also significantly increased their positions in Snowflake during recent quarters.
• Snowflake reported a 31.8% increase in quarterly revenue year-over-year and beat analysts' earnings estimates, prompting positive adjustments to target prices from several research firms.

Chicago Partners Investment Group LLC grew its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 68.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,261 shares of the company's stock after purchasing an additional 2,554 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Snowflake were worth $1,331,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Snowflake by 22.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after purchasing an additional 650,775 shares during the last quarter. CenterBook Partners LP purchased a new stake in shares of Snowflake during the 1st quarter valued at $2,381,000. Berkshire Capital Holdings Inc. increased its position in shares of Snowflake by 71,500.0% during the 1st quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company's stock valued at $1,047,000 after purchasing an additional 7,150 shares during the last quarter. Lyell Wealth Management LP increased its position in shares of Snowflake by 5.1% during the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company's stock valued at $8,870,000 after purchasing an additional 2,955 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snowflake during the 2nd quarter valued at $3,900,134,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $208.69, for a total transaction of $10,505,037.22. Following the completion of the transaction, the director owned 36,116 shares of the company's stock, valued at $7,537,048.04. The trade was a 58.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction dated 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 $38,144,398.29. The trade was a 81.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,182,434 shares of company stock worth $270,280,661 over the last quarter. 6.80% of the stock is owned by corporate insiders.

Snowflake Stock Up 2.1%

SNOW stock opened at $245.74 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $83.26 billion, a PE ratio of -59.21 and a beta of 1.21. Snowflake Inc. has a twelve month low of $113.23 and a twelve month high of $255.39. The stock has a 50-day simple moving average of $223.46 and a two-hundred day simple moving average of $203.20.

Snowflake (NYSE:SNOW - Get Free Report) last posted its 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. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company's quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, equities analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Snowflake from $230.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Morgan Stanley boosted their price objective on Snowflake from $262.00 to $272.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Mizuho boosted their price objective on Snowflake from $235.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Snowflake in a research note on Wednesday, October 8th. Finally, Piper Sandler boosted their price objective on Snowflake from $215.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $257.24.

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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