Mirador Capital Partners LP Raises Stock Position in Snowflake Inc. $SNOW

Key Points

• Mirador Capital Partners LP raised its stake in Snowflake Inc. by 8.1% in the second quarter, now holding 28,474 shares valued at approximately $6.37 million.
• Snowflake received multiple upward price target adjustments from analysts, with Oppenheimer increasing their target to $275.00 and Stifel Nicolaus to $260.00.
• In its latest earnings report, Snowflake posted a revenue of $1.14 billion, exceeding expectations, while reporting an EPS of $0.35 for the quarter.

Mirador Capital Partners LP raised its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,474 shares of the company's stock after purchasing an additional 2,126 shares during the quarter. Snowflake makes up about 1.0% of Mirador Capital Partners LP's holdings, making the stock its 22nd biggest holding. Mirador Capital Partners LP's holdings in Snowflake were worth $6,372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ignite Planners LLC increased its position in shares of Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock valued at $418,000 after buying an additional 64 shares during the period. Archford Capital Strategies LLC grew its holdings in shares of Snowflake by 1.9% during the 1st 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 period. TD Private Client Wealth LLC grew its holdings in shares of Snowflake by 8.9% during the 1st 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 period. Geneos Wealth Management Inc. grew its stake in Snowflake by 29.7% in the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after purchasing an additional 73 shares during the period. Finally, WD Rutherford LLC grew its stake in 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 purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SNOW shares. Rosenblatt Securities upped their price target on Snowflake from $210.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Stifel Nicolaus upped their target price on shares of Snowflake from $220.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Oppenheimer upped their price objective on shares of Snowflake from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. DA Davidson restated a "buy" rating and issued a $250.00 price objective on shares of Snowflake in a report on Monday, August 25th. Finally, Stephens assumed coverage on shares of Snowflake in a report on Friday, July 18th. They issued 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 assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.53.

Snowflake Stock Performance

Shares of SNOW opened at $216.35 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 12 month low of $108.71 and a 12 month high of $249.99. The company has a market cap of $73.30 billion, a price-to-earnings ratio of -52.13 and a beta of 1.22. The business's fifty day simple moving average is $212.69 and its two-hundred day simple moving average is $189.73.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating 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 company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period last year, the firm posted $0.18 earnings per share. Snowflake's revenue was up 31.8% compared to the same quarter last year. 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 548 shares of Snowflake stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $223.86, for a total transaction of $122,675.28. Following the transaction, the executive vice president owned 553,733 shares in the company, valued at $123,958,669.38. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, September 5th. The stock was sold at an average price of $224.84, for a total transaction of $90,610.52. Following the transaction, the director owned 25,733 shares in the company, valued at $5,785,807.72. This represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,214,120 shares of company stock valued at $717,676,398 in the last 90 days. 6.80% of the stock is currently owned by insiders.

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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