Beacon Pointe Advisors LLC Raises Position in Snowflake Inc. $SNOW

Beacon Pointe Advisors LLC lifted its position in Snowflake Inc. (NYSE:SNOW) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,245 shares of the company’s stock after acquiring an additional 4,516 shares during the period. Beacon Pointe Advisors LLC’s holdings in Snowflake were worth $26,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new stake in shares of Snowflake during the second quarter worth $25,000. Avion Wealth lifted its stake in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares in the last quarter. Rossby Financial LCC boosted its position in Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 127 shares during the last quarter. Whittier Trust Co. grew its stake in Snowflake by 149.1% during the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after acquiring an additional 82 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in Snowflake by 417.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after acquiring an additional 121 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SNOW. Wedbush boosted their target price on Snowflake from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Stifel Nicolaus lifted their price objective on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Royal Bank Of Canada upped their target price on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Raymond James Financial lifted their price target on Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Finally, Bank of America upped their price objective on shares of Snowflake from $280.00 to $310.00 and gave the company a “buy” rating in a report on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $270.31.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $223.88, for a total transaction of $2,238,800.00. Following the transaction, the executive vice president owned 532,450 shares of the company’s stock, valued at approximately $119,204,906. This represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following 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 SEC filing for this sale provides additional information. Insiders have sold 211,305 shares of company stock valued at $50,590,799 over the last three months. 6.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

Shares of SNOW stock opened at $252.20 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $85.45 billion, a P/E ratio of -60.77 and a beta of 1.09. The firm’s 50 day moving average price is $249.42 and its 200-day moving average price is $225.03. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67.

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.