Jeppson Wealth Management LLC Purchases Shares of 1,224 Snowflake Inc. $SNOW

Key Points

• Jeppson Wealth Management LLC purchased 1,224 shares of Snowflake Inc., valued at approximately $274,000, during the second quarter.
• Several institutional investors have increased their stakes in Snowflake, with Kingstone Capital Partners acquiring a new position worth approximately $3.9 billion.
• Snowflake reported a revenue of $1.14 billion for the last quarter, exceeding analyst expectations and reflecting a year-over-year growth of 31.8%.

Jeppson Wealth Management LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,224 shares of the company's stock, valued at approximately $274,000.

A number of other institutional investors also recently modified their holdings of SNOW. Kingstone Capital Partners Texas LLC bought a new stake in Snowflake during the 2nd quarter worth approximately $3,900,134,000. Nuveen LLC acquired a new position in Snowflake in the first quarter worth $555,847,000. AQR Capital Management LLC grew its holdings in shares of Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company's stock worth $456,430,000 after purchasing an additional 2,460,769 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock valued at $691,693,000 after buying an additional 763,673 shares in the last quarter. Finally, Amundi increased its stake in shares of Snowflake by 72.7% in the first quarter. Amundi now owns 1,808,250 shares of the company's stock valued at $252,974,000 after buying an additional 760,923 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research report on Thursday, August 28th. UBS Group increased their price target on shares of Snowflake from $250.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Macquarie boosted their price objective on shares of Snowflake from $210.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Finally, Stephens started coverage on Snowflake in a research report on Friday, July 18th. They issued an "overweight" rating and a $261.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $255.53.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the transaction, the director owned 165,507 shares of the company's stock, 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 can be accessed through this link. Also, Director Michael L. Speiser sold 50,338 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $221.47, for a total transaction of $11,148,356.86. Following the transaction, the director owned 36,956 shares of the company's stock, valued at approximately $8,184,645.32. This represents a 57.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,774,140 shares of company stock worth $621,182,005. Company insiders own 6.80% of the company's stock.

Snowflake Price Performance

SNOW opened at $222.70 on Thursday. The company has a fifty day moving average price of $213.93 and a two-hundred day moving average price of $191.91. The firm has a market capitalization of $75.45 billion, a PE ratio of -53.66 and a beta of 1.22. Snowflake Inc. has a 52 week low of $108.71 and a 52 week high of $249.99. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $0.18 EPS. The firm's revenue was up 31.8% on a year-over-year basis. As a group, analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current 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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