Intellectus Partners LLC Has $2.15 Million Position in Snowflake Inc. (NYSE:SNOW)

Intellectus Partners LLC increased its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 339.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,735 shares of the company's stock after purchasing an additional 14,473 shares during the quarter. Intellectus Partners LLC's holdings in Snowflake were worth $2,152,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Snowflake by 10.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,725 shares of the company's stock worth $279,000 after purchasing an additional 170 shares in the last quarter. Empowered Funds LLC grew its position in Snowflake by 23.2% in the first quarter. Empowered Funds LLC now owns 4,893 shares of the company's stock worth $791,000 after acquiring an additional 922 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of Snowflake during the 1st quarter worth $480,000. Avantax Advisory Services Inc. raised its holdings in shares of Snowflake by 12.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,326 shares of the company's stock valued at $861,000 after purchasing an additional 604 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Snowflake by 26.1% in the first quarter. ProShare Advisors LLC now owns 1,424 shares of the company's stock worth $230,000 after purchasing an additional 295 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNOW. Needham & Company LLC dropped their price target on shares of Snowflake from $210.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Barclays dropped their target price on shares of Snowflake from $191.00 to $146.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. Morgan Stanley restated an "equal weight" rating and set a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Canaccord Genuity Group dropped their price objective on Snowflake from $215.00 to $190.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Finally, Argus initiated coverage on Snowflake in a report on Tuesday, October 1st. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $172.09.

Snowflake Trading Down 2.6 %

Shares of NYSE:SNOW traded down $3.35 during trading on Friday, hitting $125.92. 5,735,025 shares of the company's stock traded hands, compared to its average volume of 6,476,276. The company has a 50-day moving average price of $116.38 and a 200-day moving average price of $128.90. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a market cap of $42.21 billion, a price-to-earnings ratio of -42.22 and a beta of 0.83.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company's revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.52) EPS. On average, analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, insider Benoit Dageville sold 1,946 shares of the business's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. The trade was a 3.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares of the company's stock, valued at $85,354,801.35. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,061,544 over the last quarter. 7.80% of the stock is currently 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.