Oxinas Partners Wealth Management LLC Invests $306,000 in Snowflake Inc. $SNOW

Key Points

• Oxinas Partners Wealth Management LLC has invested approximately $306,000 in Snowflake Inc. by purchasing 1,368 shares during the second quarter.
• Snowflake's quarterly earnings showed a revenue of $1.14 billion, surpassing the $1.09 billion estimate, and earnings per share of $0.35, exceeding expected figures.
• Wall Street analysts are optimistic about Snowflake, with several firms increasing their price targets, including JPMorgan raising it from $225.00 to $255.00.

Oxinas Partners Wealth Management LLC purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,368 shares of the company's stock, valued at approximately $306,000.

Several other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Snowflake by 22.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after buying an additional 650,775 shares during the period. CenterBook Partners LP acquired a new position in shares of Snowflake in the first quarter worth about $2,381,000. Berkshire Capital Holdings Inc. boosted its holdings in Snowflake by 71,500.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company's stock valued at $1,047,000 after purchasing an additional 7,150 shares during the last quarter. Lyell Wealth Management LP boosted its holdings in 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 during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Snowflake during the 1st quarter valued at approximately $898,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Price Performance

NYSE SNOW opened at $222.70 on Thursday. The company has a 50-day moving average price of $213.93 and a two-hundred day moving average price of $191.91. The stock has a market cap of $75.45 billion, a price-to-earnings ratio of -53.66 and a beta of 1.22. 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 52 week low of $108.71 and a 52 week high of $249.99.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The business's revenue was up 31.8% on a year-over-year basis. Analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Snowflake from $225.00 to $255.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Piper Sandler upped their price target on shares of Snowflake from $215.00 to $285.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Wells Fargo & Company increased 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. Monness Crespi & Hardt increased their target price on Snowflake from $245.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Finally, Canaccord Genuity Group boosted their price target on Snowflake from $220.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Two equities 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $255.53.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $224.84, for a total value of $90,610.52. Following the completion of the transaction, the director directly owned 25,733 shares in the company, valued at $5,785,807.72. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 2,611 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $230.48, for a total value of $601,783.28. Following the sale, the executive vice president directly owned 542,450 shares in the company, valued at approximately $125,023,876. The trade was a 0.48% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,774,140 shares of company stock valued at $621,182,005. Company insiders own 6.80% of the company's stock.

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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