Intellectus Partners LLC Boosts Position in Snowflake Inc. (NYSE:SNOW)

Intellectus Partners LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 339.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,735 shares of the company’s stock after acquiring an additional 14,473 shares during the period. Intellectus Partners LLC’s holdings in Snowflake were worth $2,152,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Covestor Ltd grew its holdings in Snowflake by 25.0% during the first quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after acquiring an additional 70 shares during the period. Modus Advisors LLC grew its stake in shares of Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after purchasing an additional 94 shares during the period. Catalyst Private Wealth LLC increased its holdings in shares of Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after purchasing an additional 104 shares in the last quarter. Iron Gate Global Advisors LLC lifted its stake in shares of Snowflake by 0.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after purchasing an additional 105 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Snowflake by 30.3% during the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after buying an additional 108 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

SNOW stock opened at $129.19 on Friday. The firm has a market cap of $43.30 billion, a PE ratio of -42.22 and a beta of 0.83. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The firm’s 50 day moving average price is $116.38 and its 200-day moving average price is $128.90.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.52) earnings per share. Equities research analysts predict that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the subject of a number of analyst reports. Loop Capital decreased their price objective on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. JMP Securities lowered their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Argus started coverage on shares of Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $172.09.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 6,251 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at $23,877,196.65. This trade represents a 2.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,061,544 over the last 90 days. 7.80% of the stock is owned by insiders.

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.