Snowflake Inc. (NYSE:SNOW) Shares Purchased by Werba Rubin Papier Wealth Management

Werba Rubin Papier Wealth Management boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 2.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,494 shares of the company’s stock after buying an additional 237 shares during the quarter. Werba Rubin Papier Wealth Management’s holdings in Snowflake were worth $1,090,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Comerica Bank lifted its stake in shares of Snowflake by 17.2% during the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after buying an additional 4,296 shares during the period. Choreo LLC grew its stake in Snowflake by 18.6% during the 1st quarter. Choreo LLC now owns 8,267 shares of the company’s stock valued at $1,336,000 after purchasing an additional 1,294 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Snowflake by 23.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after purchasing an additional 43,062 shares during the period. Cetera Investment Advisers increased its holdings in shares of Snowflake by 201.5% in the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock valued at $10,292,000 after purchasing an additional 42,563 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Snowflake in the first quarter worth about $29,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SNOW. Loop Capital cut their price target on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research note on Wednesday, October 2nd. Stifel Nicolaus decreased their target price on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Canaccord Genuity Group cut their price target on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Bank of America reduced their price objective on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.74.

Snowflake Stock Performance

NYSE SNOW opened at $119.54 on Friday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The firm has a market capitalization of $40.02 billion, a P/E ratio of -42.69 and a beta of 0.83. The stock’s fifty day moving average is $116.65 and its two-hundred day moving average is $133.15.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same quarter in the prior year, the firm posted ($0.52) earnings per share. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the transaction, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,049,994 in the last 90 days. Insiders own 7.80% of the company’s stock.

Snowflake 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.