Gunderson Capital Management Inc. Invests $2.82 Million in Snowflake Inc. $SNOW

Key Points

• Gunderson Capital Management Inc. invested approximately $2.82 million in Snowflake Inc., acquiring 12,602 shares, which represent around 1.2% of its total holdings.
• Snowflake's stock performance has been notable, with the shares recently trading at $250.70, along with a market cap of $84.94 billion and a 12-month high of $253.60.
• Several analysts have recently raised their price targets for Snowflake, with Royal Bank of Canada and Evercore ISI both increasing their targets to $275.00 and $280.00 respectively, reflecting positive market sentiment.

Gunderson Capital Management Inc. acquired a new position in 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 firm acquired 12,602 shares of the company's stock, valued at approximately $2,820,000. Snowflake comprises about 1.2% of Gunderson Capital Management Inc.'s holdings, making the stock its 29th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake 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 buying an additional 650,775 shares in the last quarter. CenterBook Partners LP bought a new position in shares of Snowflake during the first quarter worth $2,381,000. Berkshire Capital Holdings Inc. grew its stake in Snowflake by 71,500.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company's stock valued at $1,047,000 after acquiring an additional 7,150 shares in the last quarter. Lyell Wealth Management LP increased its holdings in Snowflake by 5.1% in the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company's stock valued at $8,870,000 after acquiring an additional 2,955 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Snowflake in the 1st quarter worth $898,000. Institutional investors own 65.10% of the company's stock.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the transaction, the executive vice president owned 527,336 shares in the company, valued at $123,132,956. This trade represents a 1.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the sale, the senior vice president owned 241,854 shares of the company's stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,177,434 shares of company stock worth $269,030,661. Company insiders own 6.80% of the company's stock.

Snowflake Stock Performance

Shares of SNOW opened at $250.70 on Friday. 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 firm has a market cap of $84.94 billion, a PE ratio of -60.41 and a beta of 1.21. The stock has a fifty day moving average price of $217.89 and a 200-day moving average price of $197.99. Snowflake Inc. has a 12 month low of $113.23 and a 12 month high of $253.60.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm's revenue was up 31.8% compared to the same quarter last year. Equities research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on SNOW shares. Royal Bank Of Canada lifted their price objective on shares of Snowflake from $250.00 to $275.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Evercore ISI increased their price target on Snowflake from $240.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. KeyCorp lifted their price objective on shares of Snowflake from $250.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. CICC Research began coverage on shares of Snowflake in a research note on Friday, June 20th. They issued an "outperform" rating and a $225.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of Snowflake from $230.00 to $260.00 and gave the stock a "buy" 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 stock. Based on data from MarketBeat.com, Snowflake currently has an average rating of "Moderate Buy" and an average target price of $256.18.

Snowflake 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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