Grant Private Wealth Management Inc Acquires New Shares in Snowflake Inc. $SNOW

Grant Private Wealth Management Inc acquired a new position in Snowflake Inc. (NYSE:SNOW) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,704 shares of the company’s stock, valued at approximately $1,738,000. Snowflake accounts for about 1.1% of Grant Private Wealth Management Inc’s portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors have also added to or reduced their stakes in SNOW. Brighton Jones LLC raised its stake in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Snowflake by 73.9% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 3,924 shares of the company’s stock valued at $573,000 after acquiring an additional 1,668 shares during the period. Aberdeen Group plc raised its position in shares of Snowflake by 4.7% in the 1st quarter. Aberdeen Group plc now owns 57,128 shares of the company’s stock worth $8,350,000 after acquiring an additional 2,549 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new position in shares of Snowflake in the 1st quarter worth $723,000. Finally, Algert Global LLC purchased a new stake in shares of Snowflake during the 1st quarter worth $398,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Macquarie lifted their target price on Snowflake from $235.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. DA Davidson reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Snowflake in a research report on Monday, December 1st. Oppenheimer reiterated an “outperform” rating on shares of Snowflake in a research note on Friday, November 21st. Piper Sandler restated an “overweight” rating and issued a $285.00 target price on shares of Snowflake in a research note on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.32.

Insider Transactions at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction that occurred 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 directly owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. This trade represents a 4.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $257.30, for a total transaction of $12,951,967.40. Following the sale, the director owned 33,596 shares of the company’s stock, valued at approximately $8,644,250.80. The trade was a 59.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 221,537 shares of company stock valued at $53,336,395. 6.80% of the stock is owned by company insiders.

Snowflake Trading Up 2.4%

NYSE:SNOW opened at $220.45 on Wednesday. The company has a market capitalization of $75.44 billion, a P/E ratio of -54.57 and a beta of 1.09. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The firm has a fifty day simple moving average of $249.39 and a 200-day simple moving average of $227.70.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The firm’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. On average, equities research analysts anticipate 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.