Red Spruce Capital LLC Purchases 94 Shares of Snowflake Inc. (NYSE:SNOW)

Red Spruce Capital LLC lifted its position in Snowflake Inc. (NYSE:SNOW) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,605 shares of the company’s stock after buying an additional 94 shares during the period. Red Spruce Capital LLC’s holdings in Snowflake were worth $1,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Snowflake by 333.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Snowflake by 822.2% in the first quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock worth $38,000 after acquiring an additional 148 shares during the period. BerganKDV Wealth Management LLC boosted its stake in shares of Snowflake by 153.7% during the 1st quarter. BerganKDV Wealth Management LLC now owns 170 shares of the company’s stock worth $26,000 after acquiring an additional 103 shares during the last quarter. M&R Capital Management Inc. grew its position in shares of Snowflake by 100.0% during the 1st quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $31,000 after acquiring an additional 100 shares during the period. Finally, Manchester Capital Management LLC increased its stake in shares of Snowflake by 1,264.7% in the 1st quarter. Manchester Capital Management LLC now owns 232 shares of the company’s stock worth $36,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 63.74% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW traded down $2.46 during trading on Thursday, reaching $162.88. 1,263,521 shares of the company were exchanged, compared to its average volume of 5,730,962. The business’s fifty day simple moving average is $164.27 and its 200-day simple moving average is $159.58. Snowflake Inc. has a 12-month low of $119.27 and a 12-month high of $203.62. The firm has a market capitalization of $53.08 billion, a PE ratio of -62.16 and a beta of 0.78.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 23rd. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.12. The business had revenue of $674.00 million for the quarter, compared to the consensus estimate of $662.22 million. Snowflake had a negative return on equity of 14.07% and a negative net margin of 35.22%. The business’s revenue was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.67) EPS. On average, sell-side analysts anticipate that Snowflake Inc. will post -1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Raymond James lowered their target price on Snowflake from $180.00 to $170.00 and set an “outperform” rating on the stock in a research report on Thursday, August 24th. StockNews.com started coverage on shares of Snowflake in a research note on Thursday, August 17th. They set a “sell” rating on the stock. William Blair began coverage on shares of Snowflake in a research note on Wednesday, June 28th. They issued an “outperform” rating for the company. DA Davidson assumed coverage on shares of Snowflake in a report on Thursday, September 7th. They issued a “buy” rating and a $200.00 target price for the company. Finally, Barclays decreased their price target on Snowflake from $190.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $190.55.

Insider Buying and Selling at Snowflake

In related news, CEO Frank Slootman sold 20,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $188.40, for a total value of $3,925,125.60. Following the completion of the transaction, the chief executive officer now owns 185,683 shares of the company’s stock, valued at $34,982,677.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $184.94, for a total value of $277,410.00. Following the transaction, the senior vice president now owns 765,897 shares of the company’s stock, valued at approximately $141,644,991.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frank Slootman sold 20,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $188.40, for a total transaction of $3,925,125.60. Following the completion of the sale, the chief executive officer now owns 185,683 shares of the company’s stock, valued at $34,982,677.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 634,591 shares of company stock valued at $112,212,320. Company insiders own 8.30% of the company’s stock.

Snowflake Company 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.