Stephens Inc. AR Buys 3,082 Shares of Snowflake Inc. $SNOW

Key Points

• Stephens Inc. AR increased its stake in Snowflake Inc. by 105.9%, purchasing an additional 3,082 shares, bringing their total holdings to 5,993 shares valued at approximately $1.34 million.
• Snowflake's recent quarterly earnings report indicated an EPS of $0.35, surpassing analyst expectations and showing a 31.8% increase in revenue year-over-year.
• Analysts have upgraded Snowflake's stock ratings, with price targets reaching as high as $285.00, reflecting a generally positive outlook on the company.

Stephens Inc. AR raised its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 105.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,993 shares of the company's stock after purchasing an additional 3,082 shares during the quarter. Stephens Inc. AR's holdings in Snowflake were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Beverly Hills Private Wealth LLC lifted its position in Snowflake by 13.8% during the second quarter. Beverly Hills Private Wealth LLC now owns 2,873 shares of the company's stock valued at $643,000 after purchasing an additional 348 shares during the last quarter. Calamos Wealth Management LLC lifted its holdings in shares of Snowflake by 2.7% in the 2nd quarter. Calamos Wealth Management LLC now owns 58,068 shares of the company's stock worth $12,994,000 after acquiring an additional 1,508 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Snowflake by 68.9% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 6,261 shares of the company's stock worth $1,331,000 after acquiring an additional 2,554 shares during the last quarter. Aspiriant LLC bought a new stake in shares of Snowflake in the 2nd quarter worth approximately $201,000. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of Snowflake by 4.2% in the 2nd quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company's stock worth $359,000 after acquiring an additional 64 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Up 4.7%

NYSE:SNOW opened at $252.91 on Friday. The company has a fifty day moving average of $226.60 and a 200 day moving average of $204.62. Snowflake Inc. has a 52 week low of $113.23 and a 52 week high of $255.39. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $85.69 billion, a P/E ratio of -60.94 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm's revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. On average, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of recent research reports. Needham & Company LLC boosted their price objective on shares of Snowflake from $230.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Barclays boosted their price objective on shares of Snowflake from $219.00 to $255.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Sanford C. Bernstein boosted their price objective on shares of Snowflake from $191.00 to $221.00 and gave the stock a "market perform" rating in a report on Thursday, August 28th. Piper Sandler boosted their price objective on shares of Snowflake from $215.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Finally, Macquarie boosted their price objective on shares of Snowflake from $210.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $257.24.

Insider Activity at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $208.69, for a total transaction of $10,505,037.22. Following the transaction, the director directly owned 36,116 shares of the company's stock, valued at approximately $7,537,048.04. The trade was a 58.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the transaction, the executive vice president directly owned 527,336 shares in the company, valued at approximately $123,132,956. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,182,434 shares of company stock valued at $270,280,661 in the last 90 days. 6.80% of the stock is owned by company insiders.

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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