Quadrant Private Wealth Management LLC Has $13.36 Million Position in Snowflake Inc. $SNOW

Quadrant Private Wealth Management LLC lessened its stake in Snowflake Inc. (NYSE:SNOW) by 9.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 59,229 shares of the company’s stock after selling 5,999 shares during the period. Snowflake comprises 2.4% of Quadrant Private Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest position. Quadrant Private Wealth Management LLC’s holdings in Snowflake were worth $13,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Snowflake by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock valued at $6,218,515,000 after purchasing an additional 595,553 shares during the period. Jennison Associates LLC lifted its stake in Snowflake by 20.5% in the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock valued at $1,790,309,000 after buying an additional 1,363,389 shares during the period. State Street Corp boosted its holdings in Snowflake by 1.4% during the second quarter. State Street Corp now owns 6,887,073 shares of the company’s stock worth $1,541,120,000 after buying an additional 94,293 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Snowflake by 15.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock worth $1,108,045,000 after buying an additional 652,485 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Snowflake by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,424,120 shares of the company’s stock valued at $986,057,000 after acquiring an additional 133,059 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the 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 completion of the transaction, the executive vice president owned 512,450 shares in the company, valued at approximately $127,871,648.50. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $220.44, for a total value of $2,601,412.44. Following the completion of the transaction, the senior vice president directly owned 218,020 shares of the company’s stock, valued at $48,060,328.80. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 618,681 shares of company stock valued at $137,427,145 over the last three months. Corporate insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped 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. Needham & Company LLC restated a “buy” rating and issued a $280.00 price objective on shares of Snowflake in a research report on Thursday, December 4th. Jefferies Financial Group set a $300.00 target price on Snowflake in a report on Monday, November 24th. Barclays reissued an “equal weight” rating and issued a $250.00 target price (down from $290.00) on shares of Snowflake in a research note on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Snowflake in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $275.58.

Snowflake Price Performance

SNOW stock opened at $211.38 on Friday. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The firm has a market cap of $72.33 billion, a P/E ratio of -52.32 and a beta of 1.14. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. The company’s 50-day moving average price is $228.45 and its two-hundred day moving average price is $228.37.

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

Snowflake Profile

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.