Atlantic Union Bankshares Corp Invests $1.47 Million in Snowflake Inc. $SNOW

Atlantic Union Bankshares Corp bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,580 shares of the company’s stock, valued at approximately $1,472,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in shares of Snowflake by 22.2% in the 1st 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 during the last quarter. CenterBook Partners LP bought a new stake in Snowflake during the 1st quarter valued at 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 buying an additional 7,150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Snowflake in the second quarter worth approximately $6,845,000. Finally, Lyell Wealth Management LP grew 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 buying an additional 2,955 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SNOW shares. 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 target on Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Snowflake in a research report on Friday, October 17th. Macquarie lifted their price objective on Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Finally, Scotiabank boosted their target price on Snowflake from $230.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $258.95.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 2,976 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $236.01, for a total value of $702,365.76. Following the transaction, the director directly owned 34,436 shares of the company’s stock, valued at approximately $8,127,240.36. This trade represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $277.73, for a total value of $2,777,300.00. Following the transaction, the executive vice president owned 522,450 shares in the company, valued at $145,100,038.50. This trade represents a 1.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 880,647 shares of company stock valued at $203,522,973. Company insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

SNOW opened at $262.72 on Friday. The company’s 50 day moving average is $240.55 and its 200 day moving average is $214.54. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a market cap of $89.01 billion, a price-to-earnings ratio of -63.31 and a beta of 1.23. Snowflake Inc. has a 12-month low of $119.66 and a 12-month high of $280.67.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.08. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. On average, equities research analysts predict that Snowflake Inc. will post -2.36 EPS 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.