Snowflake Inc. $SNOW Stock: Curated Wealth Partners LLC Trims Stake

Curated Wealth Partners LLC cut its stake in Snowflake Inc. (NYSE:SNOW) by 96.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,296 shares of the company’s stock after selling 119,640 shares during the quarter. Curated Wealth Partners LLC’s holdings in Snowflake were worth $1,459,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SNOW. WealthPlan Investment Management LLC bought a new stake in shares of Snowflake during the 3rd quarter worth $242,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Snowflake in the third quarter worth $218,000. Nvwm LLC increased its holdings in Snowflake by 0.6% in the third quarter. Nvwm LLC now owns 6,215 shares of the company’s stock valued at $2,110,000 after purchasing an additional 37 shares during the period. Covenant Asset Management LLC bought a new position in Snowflake during the 3rd quarter worth $8,807,000. Finally, Mather Group LLC. lifted its holdings in Snowflake by 98.0% during the 3rd quarter. Mather Group LLC. now owns 101 shares of the company’s stock worth $34,000 after buying an additional 50 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNOW. Stifel Nicolaus lifted their target price on shares of Snowflake from $350.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Benchmark boosted their price target on shares of Snowflake from $290.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Cantor Fitzgerald upped their target price on shares of Snowflake from $405.00 to $430.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. TD Cowen boosted their price objective on Snowflake from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Finally, BTIG Research raised their price target on shares of Snowflake from $340.00 to $424.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Thirty-five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $414.24.

Snowflake Price Performance

SNOW traded down $4.88 during trading on Thursday, reaching $330.20. 3,460,684 shares of the company were exchanged, compared to its average volume of 6,479,282. The company’s 50-day moving average is $333.37 and its two-hundred day moving average is $253.25. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $384.56. The company has a market cap of $116.50 billion, a price-to-earnings ratio of -103.85 and a beta of 1.35. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. Research analysts forecast that Snowflake Inc. will post -1.44 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 102,791 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $335.22, for a total transaction of $34,457,599.02. Following the sale, the director directly owned 19,024 shares of the company’s stock, valued at approximately $6,377,225.28. This represents a 84.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Beaulier sold 755 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $336.36, for a total value of $253,951.80. Following the completion of the transaction, the executive owned 211,619 shares of the company’s stock, valued at $71,180,166.84. This represents a 0.36% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,246,429 shares of company stock worth $396,227,952. 4.80% of the stock is owned by corporate insiders.

Snowflake Profile

Snowflake Inc (NYSE: SNOW) provides a cloud-based data platform that enables organizations to store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and artificial intelligence workloads in a single environment.

Snowflake’s services include cloud data storage and computing, data sharing and collaboration tools, governance and security capabilities, and access to third-party data through the Snowflake Marketplace.