Snowflake Inc. $SNOW Stake Boosted by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 35.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,355 shares of the company's stock after purchasing an additional 4,318 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Snowflake were worth $3,660,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after buying an additional 650,775 shares during the last quarter. CenterBook Partners LP bought a new stake in Snowflake in the first quarter valued at $2,381,000. Berkshire Capital Holdings Inc. lifted its stake 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 buying an additional 7,150 shares during the last quarter. Lyell Wealth Management LP increased its holdings in shares of Snowflake by 5.1% during 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 period. Finally, ORG Wealth Partners LLC acquired a new position in shares of Snowflake during the first quarter valued at $898,000. 65.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value 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. This trade represents a 4.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 527,336 shares in the company, valued at $123,132,956. This represents a 1.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,177,434 shares of company stock worth $269,030,661. Company insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Oppenheimer raised their price target on Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Scotiabank raised their price target on Snowflake from $230.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Jefferies Financial Group raised their price target on Snowflake from $250.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Stephens assumed coverage on Snowflake in a report on Friday, July 18th. They set an "overweight" rating and a $261.00 price target on the stock. Finally, Royal Bank Of Canada raised their price target on Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a 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 issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $255.53.

Snowflake Trading Down 3.0%

Shares of SNOW opened at $235.34 on Wednesday. The business's 50-day moving average price is $216.75 and its 200 day moving average price is $197.03. The stock has a market capitalization of $79.73 billion, a P/E ratio of -56.71 and a beta of 1.21. Snowflake Inc. has a 1-year low of $113.13 and a 1-year high of $249.99. 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 (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.Snowflake's revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.