Symmetry Partners LLC Makes New $312,000 Investment in Snowflake Inc. $SNOW

Key Points

• Symmetry Partners LLC made a new investment of $312,000 in Snowflake Inc., acquiring 1,395 shares during the second quarter.
• Snowflake recently reported earnings of $0.35 per share, surpassing estimates and achieving a revenue of $1.14 billion, which is an increase of 31.8% year-over-year.
• Several analysts have upgraded their price targets for Snowflake shares to $260, with 36 analysts rating the stock as a "Buy."

Symmetry Partners LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,395 shares of the company's stock, valued at approximately $312,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Capital Advantage Inc. grew its stake in shares of Snowflake by 1.1% during the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company's stock worth $987,000 after purchasing an additional 48 shares during the period. Ignite Planners LLC grew its stake in shares of Snowflake by 2.3% during the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock worth $418,000 after purchasing an additional 64 shares during the period. Archford Capital Strategies LLC grew its stake 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 purchasing an additional 68 shares during the period. TD Private Client Wealth LLC grew its stake 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 purchasing an additional 68 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock valued at $47,000 after acquiring an additional 73 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

NYSE SNOW opened at $224.64 on Friday. The company has a market cap of $76.11 billion, a P/E ratio of -54.13 and a beta of 1.22. 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 stock has a 50-day moving average of $214.29 and a two-hundred day moving average of $193.22. Snowflake Inc. has a 1-year low of $108.71 and a 1-year high of $249.99.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share 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 during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company posted $0.18 EPS. Snowflake's revenue was up 31.8% compared to the same quarter last year. As a group, analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their price target on shares of Snowflake from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Stifel Nicolaus lifted their price target on shares of Snowflake from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. JMP Securities reissued a "market outperform" rating and issued a $260.00 price target on shares of Snowflake in a research note on Tuesday, August 26th. Mizuho raised their price objective on Snowflake from $235.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Finally, Needham & Company LLC raised their price objective on Snowflake from $230.00 to $280.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $255.53.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $221.47, for a total value of $11,148,356.86. Following the completion of the sale, the director owned 36,956 shares in the company, valued at approximately $8,184,645.32. The trade was a 57.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 710,083 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the sale, the director owned 165,507 shares of the company's stock, valued at approximately $38,144,398.29. This represents a 81.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,469,296 shares of company stock valued at $553,371,035 over the last ninety days. 6.80% of the stock is currently owned by corporate 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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