1,519 Shares in Snowflake Inc. $SNOW Acquired by Jackson Thornton Wealth Management LLC

Key Points

• Jackson Thornton Wealth Management LLC acquired 1,519 shares of Snowflake Inc., valued at approximately $339,000, during the second quarter.
• Brokerages have raised their target prices for Snowflake, with estimates ranging from $250 to $285, reflecting strong confidence in the company.
• Recently, insiders sold a combined total of 1,182,434 shares of Snowflake stock, valued at around $270.28 million, over a three-month period.

Jackson Thornton Wealth Management LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,519 shares of the company's stock, valued at approximately $339,000.

Several other large investors have also made changes to their positions in SNOW. Trust Co. of Toledo NA OH acquired a new stake in Snowflake in the second quarter valued at approximately $25,000. Golden State Wealth Management LLC boosted its position in Snowflake by 748.0% in the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company's stock valued at $31,000 after buying an additional 187 shares in the last quarter. Whittier Trust Co. boosted its position in Snowflake by 149.1% in the second quarter. Whittier Trust Co. now owns 137 shares of the company's stock valued at $31,000 after buying an additional 82 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in Snowflake by 53.1% in the first quarter. Tradewinds Capital Management LLC now owns 245 shares of the company's stock valued at $36,000 after buying an additional 85 shares in the last quarter. Finally, LGT Financial Advisors LLC acquired a new stake in Snowflake in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNOW. Wedbush raised their target price on shares of Snowflake from $250.00 to $270.00 and gave the company an "outperform" rating in a research report on Monday. Piper Sandler raised their target price on shares of Snowflake from $215.00 to $285.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Cantor Fitzgerald raised their target price on shares of Snowflake from $242.00 to $275.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Stifel Nicolaus raised their price target on shares of Snowflake from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Finally, Scotiabank raised their price target on shares of Snowflake from $230.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus target price of $257.24.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the transaction, the executive vice president directly owned 527,336 shares in the company, valued at $123,132,956. This trade represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president owned 241,854 shares of the company's stock, valued at $53,986,649.88. This represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,182,434 shares of company stock valued at $270,280,661 over the last three months. Corporate insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $245.74 on Tuesday. Snowflake Inc. has a twelve month low of $113.23 and a twelve month high of $255.39. The firm has a fifty day simple moving average of $223.46 and a 200 day simple moving average of $203.20. The company has a market capitalization of $83.26 billion, a PE ratio of -59.21 and a beta of 1.21. 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 (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business's quarterly revenue was up 31.8% on a year-over-year basis. During the same period last year, the company posted $0.18 earnings per share. On average, sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Snowflake Company 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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