Cresset Asset Management LLC Has $3.87 Million Position in Snowflake Inc. $SNOW

Key Points

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Cresset Asset Management LLC decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 22.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,489 shares of the company's stock after selling 7,599 shares during the period. Cresset Asset Management LLC's holdings in Snowflake were worth $3,872,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SNOW. Goldman Sachs Group Inc. lifted its position in Snowflake by 22.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after acquiring an additional 650,775 shares in the last quarter. CenterBook Partners LP purchased a new stake in shares of Snowflake in the first quarter worth approximately $2,381,000. Lyell Wealth Management LP lifted its holdings in shares of Snowflake by 5.1% in the first 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 in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Snowflake during the first quarter valued at approximately $898,000. Finally, SBI Securities Co. Ltd. boosted its position in shares of Snowflake by 9.4% during the first quarter. SBI Securities Co. Ltd. now owns 60,591 shares of the company's stock valued at $8,856,000 after buying an additional 5,197 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank Of Canada increased their price target on Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Cantor Fitzgerald increased their target price on shares of Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Truist Financial raised their price target on shares of Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $205.00 price objective on shares of Snowflake in a research report on Monday, May 19th. Finally, Citigroup reiterated an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $226.32.

Snowflake Stock Down 0.5%

Shares of NYSE SNOW opened at $198.04 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a market cap of $66.12 billion, a P/E ratio of -47.04 and a beta of 1.22. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $229.27. The business has a 50-day simple moving average of $212.25 and a two-hundred day simple moving average of $184.68.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company's revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. Research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were 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. The trade was a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 1,146 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $217.74, for a total value of $249,530.04. Following the completion of the sale, the director owned 4,474 shares in the company, valued at $974,168.76. This trade represents a 20.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,014,642 shares of company stock valued at $657,325,186. 6.80% of the stock is owned by company insiders.

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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