Intellectus Partners LLC Grows Position in Snowflake Inc. (NYSE:SNOW)

Intellectus Partners LLC raised its holdings in Snowflake Inc. (NYSE:SNOW) by 339.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,735 shares of the company’s stock after purchasing an additional 14,473 shares during the period. Intellectus Partners LLC’s holdings in Snowflake were worth $2,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SNOW. Allspring Global Investments Holdings LLC grew its stake in Snowflake by 10.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,725 shares of the company’s stock valued at $279,000 after acquiring an additional 170 shares in the last quarter. Empowered Funds LLC grew its position in shares of Snowflake by 23.2% during the 1st quarter. Empowered Funds LLC now owns 4,893 shares of the company’s stock valued at $791,000 after purchasing an additional 922 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Snowflake during the 1st quarter valued at $480,000. Avantax Advisory Services Inc. increased its holdings in shares of Snowflake by 12.8% in the first quarter. Avantax Advisory Services Inc. now owns 5,326 shares of the company’s stock worth $861,000 after purchasing an additional 604 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Snowflake by 26.1% during the first quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock valued at $230,000 after buying an additional 295 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $129.19 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The firm’s 50-day moving average is $116.38 and its 200 day moving average is $128.90. The company has a market capitalization of $43.30 billion, a PE ratio of -42.22 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the business posted ($0.52) EPS. Sell-side analysts forecast that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNOW. Argus started coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. Bank of America cut their target price on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Citigroup dropped their price target on Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Wells Fargo & Company reduced their price objective on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Finally, Stifel Nicolaus decreased their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $172.09.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 30,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the transaction, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at $86,610,600. This represents a 3.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the sale, the insider now directly owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,061,544 in the last three months. 7.80% of the stock is owned by insiders.

About Snowflake

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.