US Bancorp DE Purchases 4,143 Shares of Snowflake Inc. $SNOW

Key Points

• US Bancorp DE increased its stake in Snowflake Inc. by 13.4%, acquiring an additional 4,143 shares, bringing its total holdings to 34,981 shares valued at approximately $7.83 million.
• Multiple investment firms have raised their holdings in Snowflake, with Goldman Sachs increasing its position by 22.2% and Berkshire Capital by 71,500% in recent quarters.
• Snowflake's stock has received several positive analyst ratings, with price targets ranging from $250 to $275, and a consensus rating of "Moderate Buy."

US Bancorp DE boosted its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 13.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,981 shares of the company's stock after purchasing an additional 4,143 shares during the quarter. US Bancorp DE's holdings in Snowflake were worth $7,828,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in 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 in the last quarter. CenterBook Partners LP bought a new position in Snowflake in the first quarter worth about $2,381,000. Berkshire Capital Holdings Inc. raised 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 worth $1,047,000 after purchasing an additional 7,150 shares in 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 acquiring an additional 2,955 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Snowflake during the first quarter valued at about $898,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SNOW has been the topic of several recent analyst reports. Robert W. Baird upped their price objective on shares of Snowflake from $215.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Royal Bank Of Canada upped their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Cowen restated a "buy" rating on shares of Snowflake in a report on Thursday, August 28th. Monness Crespi & Hardt upped their price objective on shares of Snowflake from $245.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Finally, JMP Securities restated a "market outperform" rating and set a $260.00 price objective on shares of Snowflake in a report on Tuesday, August 26th. Two 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $256.18.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 5,000 shares of the firm's 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 sale, the executive vice president owned 43,568 shares of the company's stock, valued at $10,892,000. This trade represents a 10.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Emily Ho sold 1,658 shares of the firm's stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total transaction of $373,464.50. Following the sale, the chief accounting officer directly owned 31,745 shares in the company, valued at $7,150,561.25. The trade was a 4.96% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, 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 Performance

Shares of NYSE SNOW opened at $242.52 on Monday. 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 12 month low of $113.23 and a 12 month high of $255.39. The company has a 50 day simple moving average of $218.64 and a two-hundred day simple moving average of $199.11. The stock has a market cap of $82.17 billion, a price-to-earnings ratio of -58.44 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 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 business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the previous year, the business posted $0.18 EPS. The business's quarterly revenue was up 31.8% compared to the same quarter last year. As a group, analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Snowflake Company 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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