1,176 Shares in Snowflake Inc. $SNOW Acquired by Forza Wealth Management LLC

Key Points

• Forza Wealth Management LLC acquired 1,176 shares of Snowflake Inc., valued at approximately $263,000, indicating fresh institutional investment interest in the company.
• Snowflake reported a 31.8% year-over-year revenue increase to $1.14 billion and beat EPS estimates by $0.08, showcasing robust financial performance.
• Equities research analysts are optimistic about Snowflake's future, with multiple firms recently raising their price targets, leading to a consensus rating of "Moderate Buy" and an average target price of $255.53.

Forza Wealth Management LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,176 shares of the company's stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also modified their holdings of SNOW. Brighton Jones LLC lifted 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 buying an additional 29,320 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Snowflake by 77.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 337 shares of the company's stock valued at $49,000 after purchasing an additional 147 shares in the last quarter. Versant Capital Management Inc increased its holdings in Snowflake by 134.3% during the 1st quarter. Versant Capital Management Inc now owns 403 shares of the company's stock valued at $59,000 after purchasing an additional 231 shares in the last quarter. GAMMA Investing LLC increased its holdings in Snowflake by 29,543.2% during the 1st quarter. GAMMA Investing LLC now owns 115,905 shares of the company's stock valued at $16,941,000 after purchasing an additional 115,514 shares in the last quarter. Finally, NBC Securities Inc. increased its holdings in Snowflake by 124,333.3% during the 1st quarter. NBC Securities Inc. now owns 3,733 shares of the company's stock valued at $545,000 after purchasing an additional 3,730 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Snowflake Stock Up 0.2%

NYSE SNOW opened at $225.60 on Wednesday. The stock has a fifty day moving average of $214.75 and a 200-day moving average of $194.23. The stock has a market capitalization of $76.43 billion, a P/E ratio of -54.36 and a beta of 1.22. Snowflake Inc. has a 52 week low of $108.71 and a 52 week high of $249.99. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same period last year, the firm earned $0.18 EPS. The business's revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 2,611 shares of Snowflake stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $230.48, for a total transaction of $601,783.28. Following the completion of the sale, the executive vice president directly owned 542,450 shares of the company's stock, valued at $125,023,876. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, September 5th. The stock was sold at an average price of $224.84, for a total value of $90,610.52. Following the sale, the director directly owned 25,733 shares of the company's stock, valued at approximately $5,785,807.72. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,759,924 shares of company stock valued at $397,943,442 in the last three months. 6.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SNOW shares. Raymond James Financial raised their price target on Snowflake from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Evercore ISI raised their price target on Snowflake from $240.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Barclays raised their price target on Snowflake from $219.00 to $255.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Jefferies Financial Group raised their price target on Snowflake from $250.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Finally, Monness Crespi & Hardt raised their price target on Snowflake from $245.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $255.53.

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.

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