ABN Amro Investment Solutions Purchases New Shares in Snowflake Inc. $SNOW

ABN Amro Investment Solutions purchased a new position in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,685 shares of the company’s stock, valued at approximately $2,167,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in shares of 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 purchasing an additional 29,320 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Snowflake by 20.8% during the first quarter. Signaturefd LLC now owns 2,918 shares of the company’s stock valued at $426,000 after acquiring an additional 502 shares during the last quarter. Sigma Planning Corp lifted its position in shares of Snowflake by 32.9% in the first quarter. Sigma Planning Corp now owns 2,647 shares of the company’s stock valued at $387,000 after acquiring an additional 655 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Snowflake by 19.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 117,361 shares of the company’s stock valued at $17,153,000 after acquiring an additional 18,902 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its stake in shares of Snowflake by 10.6% in the first quarter. Wealthfront Advisers LLC now owns 9,993 shares of the company’s stock worth $1,461,000 after acquiring an additional 960 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent research reports. Morgan Stanley increased their price objective on Snowflake from $262.00 to $272.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Royal Bank Of Canada increased their target price on shares of Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Sanford C. Bernstein boosted their price target on shares of Snowflake from $191.00 to $221.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. UBS Group increased their price objective on shares of Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Evercore ISI raised their target price on shares of Snowflake from $240.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $259.89.

Snowflake Stock Performance

Shares of Snowflake stock opened at $257.40 on Friday. The firm has a market cap of $87.21 billion, a PE ratio of -62.02 and a beta of 1.23. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The business’s fifty day simple moving average is $244.05 and its 200-day simple moving average is $218.43.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm earned $0.18 EPS. Snowflake’s revenue was up 31.8% on a year-over-year basis. Equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling at Snowflake

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

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.