Interval Partners LP Invests $333,000 in Snowflake Inc. $SNOW

Key Points

• Interval Partners LP has invested $333,000 in Snowflake Inc., purchasing 2,276 shares during the first quarter.
• Snowflake's stock recently opened at $225.47 and has a market cap of $75.28 billion, with a 12-month high of $249.99.
• Insider selling activity has increased, with Christian Kleinerman and Frank Slootman selling significant shares, representing an 81.10% decrease in Slootman’s holdings.

Interval Partners LP purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,276 shares of the company's stock, valued at approximately $333,000.

A number of other institutional investors have also recently made changes to their positions in the company. Ignite Planners LLC boosted its stake in shares of Snowflake by 2.3% in the first quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock worth $418,000 after acquiring an additional 64 shares during the last quarter. Archford Capital Strategies LLC boosted its stake in shares of Snowflake by 1.9% in the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock worth $527,000 after acquiring an additional 68 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Snowflake by 8.9% in the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock worth $122,000 after acquiring an additional 68 shares during the last quarter. WD Rutherford LLC boosted its stake in shares of Snowflake by 0.6% in the first quarter. WD Rutherford LLC now owns 12,247 shares of the company's stock worth $1,795,000 after acquiring an additional 79 shares during the last quarter. Finally, Alta Wealth Advisors LLC boosted its stake in shares of Snowflake by 2.8% in the first quarter. Alta Wealth Advisors LLC now owns 2,918 shares of the company's stock worth $426,000 after acquiring an additional 80 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Up 1.6%

Shares of SNOW opened at $225.47 on Friday. The firm has a market cap of $75.28 billion, a P/E ratio of -54.33 and a beta of 1.22. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $249.99. The company's 50-day moving average price is $212.34 and its 200 day moving average price is $187.29. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (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 the consensus estimate 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 quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 EPS. On average, sell-side analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNOW. Loop Capital lifted their price target on Snowflake from $220.00 to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Barclays lifted their price objective on Snowflake from $219.00 to $255.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Cantor Fitzgerald lifted their price objective on Snowflake from $242.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. JMP Securities reiterated a "market outperform" rating and set a $260.00 price objective on shares of Snowflake in a research report on Tuesday, August 26th. Finally, Stephens began coverage on Snowflake in a research report on Friday, July 18th. They set an "overweight" rating and a $261.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $255.53.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total value of $2,335,000.00. Following the sale, the executive vice president owned 527,336 shares in the company, valued at approximately $123,132,956. The trade was a 1.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 710,083 shares of the business'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 completion of the sale, the director owned 165,507 shares in the company, valued at $38,144,398.29. This represents a 81.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,176,168 shares of company stock worth $708,898,070. 6.80% of the stock is currently owned by company insiders.

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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