Snowflake Inc. $SNOW Shares Bought by Allworth Financial LP

Allworth Financial LP grew its stake in Snowflake Inc. (NYSE:SNOW) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,379 shares of the company’s stock after purchasing an additional 390 shares during the quarter. Allworth Financial LP’s holdings in Snowflake were worth $3,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Brighton Jones LLC increased its stake in Snowflake by 90.0% during the 4th 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 in the last quarter. Ballentine Partners LLC increased its position in shares of Snowflake by 38.5% during the first quarter. Ballentine Partners LLC now owns 1,866 shares of the company’s stock worth $273,000 after purchasing an additional 519 shares in the last quarter. Signaturefd LLC raised its stake in Snowflake by 20.8% in the 1st quarter. Signaturefd LLC now owns 2,918 shares of the company’s stock valued at $426,000 after purchasing an additional 502 shares during the last quarter. Sigma Planning Corp lifted its holdings in Snowflake by 32.9% in the 1st quarter. Sigma Planning Corp now owns 2,647 shares of the company’s stock valued at $387,000 after purchasing an additional 655 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in Snowflake by 12.9% during the 1st quarter. Apollon Wealth Management LLC now owns 10,666 shares of the company’s stock worth $1,559,000 after purchasing an additional 1,219 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SNOW shares. Morgan Stanley increased their target price on shares of Snowflake from $262.00 to $272.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Macquarie boosted their price target on shares of Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Scotiabank increased their price objective on shares of Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Oppenheimer reissued an “outperform” rating and issued a $295.00 target price on shares of Snowflake in a research note on Friday, October 17th. Finally, Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $259.89.

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $224.85, for a total transaction of $11,318,499.30. Following the completion of the transaction, the director directly owned 35,276 shares of the company’s stock, valued at $7,931,808.60. The trade was a 58.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the transaction, the senior vice president directly owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 931,388 shares of company stock worth $216,578,628. 6.80% of the stock is currently owned by insiders.

Snowflake Stock Down 0.7%

Shares of NYSE:SNOW opened at $269.36 on Thursday. The firm has a market capitalization of $91.26 billion, a PE ratio of -64.91 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 debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The firm’s 50-day moving average is $242.71 and its two-hundred day moving average is $217.47.

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

Snowflake 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.