1,719 Shares in Snowflake Inc. (NYSE:SNOW) Bought by Fi3 FINANCIAL ADVISORS LLC

Key Points

• Fi3 Financial Advisors LLC has acquired 1,719 shares of Snowflake Inc. valued at approximately $251,000 in the first quarter of 2023.
• Several major institutions, including FMR LLC and Invesco Ltd., have significantly increased their holdings in Snowflake, indicating strong institutional interest in the stock.
• Snowflake recently received positive ratings from multiple analysts, with price targets raised to as high as $250.00, reflecting a generally favorable outlook on the company's performance.

Fi3 FINANCIAL ADVISORS LLC acquired a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,719 shares of the company's stock, valued at approximately $251,000.

A number of other large investors have also recently bought and sold shares of SNOW. FMR LLC boosted its holdings in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after acquiring an additional 2,200,406 shares during the period. Invesco Ltd. boosted its holdings in Snowflake by 406.5% during the fourth quarter. Invesco Ltd. now owns 2,441,112 shares of the company's stock valued at $376,932,000 after acquiring an additional 1,959,137 shares during the period. Winslow Capital Management LLC bought a new stake in Snowflake during the fourth quarter valued at about $172,683,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Snowflake by 22.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after acquiring an additional 650,775 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SNOW. Royal Bank Of Canada upped their price objective on shares of Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Robert W. Baird upped their price objective on shares of Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Truist Financial upped their price objective on shares of Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $205.00 price objective on shares of Snowflake in a research report on Monday, May 19th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $212.00 price objective (up previously from $196.00) on shares of Snowflake in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and an average target price of $226.73.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 424,852 shares of Snowflake stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the transaction, the director directly owned 165,507 shares of the company's stock, valued at $36,303,960.45. This trade represents a 71.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 400,000 shares of Snowflake stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the transaction, the chief financial officer directly owned 292,610 shares in the company, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,014,642 shares of company stock worth $657,325,186. Insiders own 6.80% of the company's stock.

Snowflake Price Performance

SNOW opened at $205.74 on Wednesday. The company has a fifty day moving average price of $214.04 and a two-hundred day moving average price of $183.36. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $229.27. The firm has a market capitalization of $68.69 billion, a PE ratio of -48.87 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business's quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. As a group, analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.

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