Snowflake Inc. $SNOW Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. raised its position in Snowflake Inc. (NYSE:SNOW) by 4.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 69,704 shares of the company’s stock after purchasing an additional 2,788 shares during the period. D.A. Davidson & CO.’s holdings in Snowflake were worth $15,722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNOW. Trust Co. of Toledo NA OH purchased a new position in Snowflake in the second quarter worth approximately $25,000. Avion Wealth increased its position in shares of Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares during the last quarter. Tripletail Wealth Management LLC acquired a new position in shares of Snowflake during the 3rd quarter worth about $28,000. Rossby Financial LCC lifted its position in shares of Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after buying an additional 127 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Snowflake by 4,333.3% during the third quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock worth $30,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. KeyCorp lifted their price objective on shares of Snowflake from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. BTIG Research reissued a “buy” rating and set a $312.00 target price on shares of Snowflake in a research note on Thursday, December 4th. Wells Fargo & Company raised their price target on Snowflake from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $237.00 price objective on shares of Snowflake in a report on Thursday, December 4th. Finally, Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $275.32.

Snowflake Stock Performance

NYSE:SNOW opened at $224.67 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $76.88 billion, a P/E ratio of -55.61 and a beta of 1.14. The firm has a 50-day moving average price of $242.16 and a two-hundred day moving average price of $228.87. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the business earned $0.20 earnings per share. The company’s quarterly revenue was up 28.7% on a year-over-year basis. As a group, research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the sale, the senior vice president directly owned 218,020 shares of the company’s stock, valued at $48,060,328.80. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 200,000 shares of Snowflake stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $221.83, for a total transaction of $44,366,000.00. Following the sale, the director owned 50,329 shares of the company’s stock, valued at approximately $11,164,482.07. This trade represents a 79.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 413,681 shares of company stock valued at $95,124,145. Insiders own 6.80% of the company’s stock.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.