Arkadios Wealth Advisors Buys Shares of 1,160 Snowflake Inc. $SNOW

Arkadios Wealth Advisors acquired a new position in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,160 shares of the company’s stock, valued at approximately $259,000.

Several other institutional investors have also recently made changes to their positions in SNOW. Brighton Jones LLC raised its stake in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of Snowflake by 10.0% in the first quarter. Concurrent Investment Advisors LLC now owns 2,376 shares of the company’s stock worth $347,000 after buying an additional 216 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Snowflake by 12.1% in the first quarter. Envestnet Asset Management Inc. now owns 294,981 shares of the company’s stock worth $43,114,000 after buying an additional 31,908 shares during the period. TD Private Client Wealth LLC raised its stake in shares of Snowflake by 8.9% in the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock worth $122,000 after buying an additional 68 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Snowflake by 36.5% in the first quarter. Crossmark Global Holdings Inc. now owns 2,196 shares of the company’s stock worth $321,000 after buying an additional 587 shares during the period. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Macquarie raised their price objective on Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Barclays increased their target price on Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Canaccord Genuity Group increased their target price on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Needham & Company LLC increased their target price on Snowflake from $230.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Raymond James Financial increased their target price on Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $258.95.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $277.73, for a total value of $2,777,300.00. Following the sale, the executive vice president owned 522,450 shares in the company, valued at $145,100,038.50. This represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 2,976 shares of the company’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $236.01, for a total value of $702,365.76. Following the completion of the sale, the director owned 34,436 shares in the company, valued at $8,127,240.36. The trade was a 7.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 880,647 shares of company stock worth $203,522,973 over the last ninety days. 6.80% of the stock is owned by corporate insiders.

Snowflake Stock Down 0.2%

Shares of SNOW opened at $264.93 on Thursday. Snowflake Inc. has a 52 week low of $118.80 and a 52 week high of $280.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $89.76 billion, a price-to-earnings ratio of -63.84 and a beta of 1.23. The stock’s 50-day moving average price is $239.59 and its 200-day moving average price is $213.31.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the business earned $0.18 earnings per share. The company’s revenue was up 31.8% compared to the same quarter last year. On average, sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

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, as well as applies artificial intelligence (AI) for solving business problems.