MIG Capital LLC Purchases New Position in Snowflake Inc. $SNOW

by · The Markets Daily

MIG Capital LLC bought a new stake in Snowflake Inc. (NYSE:SNOW – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,968 shares of the company’s stock, valued at approximately $2,454,000.

Several other institutional investors have also recently bought and sold shares of the stock. Trust Co. of Toledo NA OH bought a new position in shares of Snowflake in the 2nd quarter worth $25,000. Avion Wealth lifted its position in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 49 shares in the last quarter. Rossby Financial LCC grew its holdings in shares of Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after buying an additional 127 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Snowflake by 149.1% in the second quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Snowflake by 417.2% during the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock worth $34,000 after buying an additional 121 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Activity

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the sale, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. This represents a 4.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $257.29, for a total transaction of $103,687.87. Following the completion of the transaction, the director owned 24,927 shares in the company, valued at approximately $6,413,467.83. This trade represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 931,388 shares of company stock worth $216,578,628 over the last ninety days. Company insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

NYSE SNOW opened at $250.31 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $84.80 billion, a price-to-earnings ratio of -60.31 and a beta of 1.23. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The company has a fifty day moving average price of $247.39 and a 200-day moving average price of $223.09.

Snowflake (NYSE:SNOW – Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. As a group, equities research analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on SNOW. Bank of America raised their target price on shares of Snowflake from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Piper Sandler boosted their price target on Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Barclays raised their target price on Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Cowen reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Finally, KeyCorp lifted their price target on Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $267.25.

Read Our Latest Stock Report on SNOW

Snowflake Company Profile

(Free Report)

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.

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