Werba Rubin Papier Wealth Management Grows Stake in Snowflake Inc. $SNOW

Key Points

• Werba Rubin Papier Wealth Management increased its stake in Snowflake Inc. by 32.5% in the second quarter, acquiring a total of 10,044 shares valued at approximately $2.25 million.
• Analysts have shown strong confidence in Snowflake, with several firms raising their target prices, including UBS Group increasing theirs to $310.00 and maintaining a "buy" rating.
• Snowflake reported $1.14 billion in revenue for the last quarter, which is a 31.8% year-over-year increase, exceeding analysts' expectations.

Werba Rubin Papier Wealth Management lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 32.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,044 shares of the company's stock after purchasing an additional 2,465 shares during the period. Werba Rubin Papier Wealth Management's holdings in Snowflake were worth $2,247,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Advantage Inc. raised its holdings in shares of Snowflake by 1.1% in the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company's stock valued at $987,000 after purchasing an additional 48 shares in the last quarter. Ignite Planners LLC raised its holdings in shares of Snowflake by 2.3% in the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock valued at $418,000 after purchasing an additional 64 shares in the last quarter. Archford Capital Strategies LLC raised its holdings in shares of Snowflake by 1.9% in the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock valued at $527,000 after purchasing an additional 68 shares in the last quarter. TD Private Client Wealth LLC grew its position in shares of Snowflake by 8.9% in the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock valued at $122,000 after buying an additional 68 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of 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 buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

SNOW has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of Snowflake in a research report on Tuesday, September 30th. They issued an "overweight" rating and a $275.00 target price on the stock. Stephens initiated coverage on shares of Snowflake in a research report on Friday, July 18th. They issued an "overweight" rating and a $261.00 target price on the stock. Sanford C. Bernstein increased their target price on shares of Snowflake from $191.00 to $221.00 and gave the company a "market perform" rating in a research report on Thursday, August 28th. Royal Bank Of Canada increased their target price on shares of Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Finally, UBS Group raised their price objective on shares of Snowflake from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Two 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.18.

Snowflake Price Performance

SNOW opened at $240.88 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 52-week low of $113.23 and a 52-week high of $255.39. The company has a 50 day moving average of $220.73 and a two-hundred day moving average of $200.36. The company has a market cap of $81.61 billion, a P/E ratio of -58.04 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 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 firm earned $0.18 earnings per share. Snowflake's revenue for the quarter was up 31.8% on a year-over-year basis. On average, analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity

In other news, Director Michael L. Speiser sold 50,338 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $208.69, for a total value of $10,505,037.22. Following the completion of the transaction, the director directly owned 36,116 shares in the company, valued at approximately $7,537,048.04. This represents a 58.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the company's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president owned 241,854 shares of the company's stock, valued at $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,182,434 shares of company stock valued at $270,280,661 over the last ninety days. 6.80% of the stock is owned by company insiders.

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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