Hollencrest Capital Management Acquires 3,508 Shares of Snowflake Inc. $SNOW

Hollencrest Capital Management lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 448.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,290 shares of the company’s stock after buying an additional 3,508 shares during the quarter. Hollencrest Capital Management’s holdings in Snowflake were worth $968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH acquired a new position in shares of Snowflake during the second quarter worth approximately $25,000. Avion Wealth lifted its holdings in Snowflake by 76.6% during the 2nd 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. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Snowflake in the 3rd quarter valued at $25,000. Tripletail Wealth Management LLC bought a new stake in shares of Snowflake during the third quarter worth $28,000. Finally, Rossby Financial LCC lifted its stake in shares of Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 200,000 shares of Snowflake stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $221.83, for a total value of $44,366,000.00. Following the sale, the director directly owned 50,329 shares in the company, valued at approximately $11,164,482.07. The trade was a 79.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the transaction, the senior vice president owned 218,020 shares of the company’s stock, valued at approximately $48,060,328.80. This represents a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 618,681 shares of company stock worth $137,427,145 in the last three months. 6.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SNOW. Deutsche Bank Aktiengesellschaft raised their target price on shares of Snowflake from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. DA Davidson reaffirmed a “buy” rating and set a $300.00 target price on shares of Snowflake in a report on Monday, December 1st. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Wednesday, November 26th. Argus upgraded Snowflake from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Thursday, January 8th. Finally, The Goldman Sachs Group set a $286.00 price objective on Snowflake in a report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.58.

Snowflake Stock Performance

SNOW stock opened at $216.14 on Thursday. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The firm has a market cap of $73.96 billion, a PE ratio of -53.50 and a beta of 1.14. The business’s 50-day moving average price is $225.08 and its two-hundred day moving average price is $228.25.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. As a group, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.