Cerity Partners LLC Boosts Position in Snowflake Inc. $SNOW

Cerity Partners LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 14.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,549 shares of the company’s stock after acquiring an additional 14,256 shares during the period. Cerity Partners LLC’s holdings in Snowflake were worth $25,856,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SNOW. Brighton Jones LLC boosted its holdings in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of Snowflake by 31.8% in the first quarter. Frank Rimerman Advisors LLC now owns 3,497 shares of the company’s stock worth $511,000 after buying an additional 843 shares during the last quarter. Invesco Ltd. grew its holdings in Snowflake by 26.5% during the first quarter. Invesco Ltd. now owns 3,088,288 shares of the company’s stock worth $451,384,000 after acquiring an additional 647,176 shares during the period. Aigen Investment Management LP raised its position in Snowflake by 37.6% during the first quarter. Aigen Investment Management LP now owns 3,681 shares of the company’s stock valued at $538,000 after acquiring an additional 1,006 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its position in Snowflake by 17.0% during the first quarter. Motley Fool Asset Management LLC now owns 15,521 shares of the company’s stock valued at $2,269,000 after acquiring an additional 2,260 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Down 1.7%

SNOW stock opened at $224.99 on Tuesday. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a 50-day simple moving average of $251.32 and a 200-day simple moving average of $227.03. The stock has a market capitalization of $76.23 billion, a P/E ratio of -55.69 and a beta of 1.09.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data 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 43.84% and a negative net margin of 30.76%.The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm posted $0.20 EPS. Snowflake’s revenue was up 28.7% compared to the same quarter last year. Equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SNOW shares. Stifel Nicolaus raised their price objective on shares of Snowflake from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays increased their price target on shares of Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. The Goldman Sachs Group lifted their price objective on shares of Snowflake from $230.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, August 28th. JMP Securities upped their price objective on shares of Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Snowflake in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.78.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $230.65, for a total value of $92,951.95. Following the transaction, the director owned 24,524 shares in the company, valued at approximately $5,656,460.60. This trade represents a 1.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, December 1st. The stock was sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the sale, the executive vice president directly owned 512,450 shares in the company, valued at approximately $127,871,648.50. This trade represents a 1.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 218,819 shares of company stock worth $52,823,885 over the last ninety days. Corporate insiders own 6.80% 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.