1,375 Shares in Snowflake Inc. $SNOW Bought by Checchi Capital Advisers LLC

Key Points

• Checchi Capital Advisers LLC purchased 1,375 shares of Snowflake Inc. during Q2, with a total investment of approximately $308,000.
• Insiders have sold a total of 1,177,434 shares of Snowflake stock valued at about $269 million over the last 90 days, representing a notable level of insider trading activity.
• Snowflake's recent earnings report revealed a revenue increase of 31.8% year-over-year, with earnings per share of $0.35, outperforming analysts' expectations.

Checchi Capital Advisers LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,375 shares of the company's stock, valued at approximately $308,000.

Other large investors have also recently added to or reduced their stakes in the company. Diligent Investors LLC lifted its holdings in shares of Snowflake by 2.9% in the second quarter. Diligent Investors LLC now owns 4,554 shares of the company's stock valued at $1,019,000 after purchasing an additional 127 shares in the last quarter. Quent Capital LLC raised its position in Snowflake by 21,396.1% in the 2nd quarter. Quent Capital LLC now owns 21,926 shares of the company's stock valued at $4,906,000 after buying an additional 21,824 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in Snowflake in the 2nd quarter valued at approximately $967,000. Fairvoy Private Wealth LLC acquired a new position in Snowflake during the 2nd quarter worth approximately $1,040,000. Finally, Ameritas Advisory Services LLC acquired a new position in Snowflake during the 2nd quarter worth approximately $84,000. Institutional investors own 65.10% of the company's stock.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the sale, the executive vice president owned 527,336 shares of the company's stock, valued at $123,132,956. This trade represents a 1.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction on Friday, August 1st. The stock was sold at an average price of $208.69, for a total transaction of $10,505,037.22. Following the transaction, the director directly owned 36,116 shares of the company's stock, valued at approximately $7,537,048.04. This trade represents a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,177,434 shares of company stock valued at $269,030,661 over the last 90 days. 6.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on SNOW shares. Truist Financial boosted their price objective on shares of Snowflake from $235.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. boosted their price target on shares of Snowflake from $225.00 to $255.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. UBS Group increased their price objective on shares of Snowflake from $250.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Rosenblatt Securities raised their price objective on Snowflake from $210.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Finally, Monness Crespi & Hardt upped their target price on Snowflake from $245.00 to $260.00 and gave the stock 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 issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $255.53.

Snowflake Stock Up 3.2%

Shares of SNOW stock opened at $242.73 on Tuesday. Snowflake Inc. has a 52-week low of $113.06 and a 52-week high of $249.99. The stock has a market cap of $82.24 billion, a price-to-earnings ratio of -58.49 and a beta of 1.21. The firm's 50-day moving average is $216.42 and its 200-day moving average is $196.76. 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 announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business's revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. Sell-side 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.

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.