Sanders Morris Harris LLC Has $671,000 Stake in Snowflake Inc. $SNOW

Key Points

• Sanders Morris Harris LLC reduced its stake in Snowflake Inc. by 53.8%, dropping its holdings to 3,000 shares valued at $671,000.
• Several institutional investors have recently made significant changes to their positions in Snowflake, with Goldman Sachs increasing its stake by 22.2% in the first quarter.
• Snowflake reported $1.14 billion in revenue for the latest quarter, surpassing estimates, and the company has an anticipated EPS of -2.36 for the current year.

Sanders Morris Harris LLC lowered its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 53.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the company's stock after selling 3,500 shares during the quarter. Sanders Morris Harris LLC's holdings in Snowflake were worth $671,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after purchasing an additional 650,775 shares during the period. CenterBook Partners LP acquired a new stake in Snowflake during the first quarter worth about $2,381,000. Berkshire Capital Holdings Inc. increased its holdings in Snowflake by 71,500.0% in the 1st quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company's stock valued at $1,047,000 after buying an additional 7,150 shares during the period. Lyell Wealth Management LP raised its position in shares of 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 buying an additional 2,955 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Snowflake in the 2nd quarter valued at approximately $3,900,134,000. Institutional investors own 65.10% of the company's stock.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $250.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president owned 43,568 shares of the company's stock, valued at approximately $10,892,000. This represents a 10.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm'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 transaction of $2,634,219.22. Following the transaction, the senior vice president owned 241,854 shares of the company's stock, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,182,434 shares of company stock worth $270,280,661. 6.80% of the stock is currently owned by insiders.

Snowflake Stock Up 2.1%

NYSE:SNOW opened at $245.74 on Tuesday. Snowflake Inc. has a one year low of $113.23 and a one year high of $255.39. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $83.26 billion, a PE ratio of -59.21 and a beta of 1.21. The firm's 50 day simple moving average is $223.46 and its 200 day simple moving average is $203.20.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results 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. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned $0.18 earnings per share. The company's revenue for the quarter was up 31.8% on a year-over-year basis. On average, research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNOW. Raymond James Financial increased their price target on shares of Snowflake from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. The Goldman Sachs Group raised their target price on Snowflake from $230.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Bank of America upgraded Snowflake from a "neutral" rating to a "buy" rating and lifted their price target for the company from $220.00 to $240.00 in a research note on Wednesday, August 20th. Monness Crespi & Hardt upped their price objective on Snowflake from $245.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Finally, Barclays lifted their target price on Snowflake from $219.00 to $255.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $257.24.

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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