37,100 Shares in Snowflake Inc. $SNOW Bought by Abacus FCF Advisors LLC

Key Points

• Abacus FCF Advisors LLC purchased 37,100 shares of Snowflake Inc. for approximately $8.3 million, as reported in their Form 13F filing with the SEC.
• Snowflake's stock opened at $230.40, with a market cap of $78.06 billion, and the company's revenue grew 31.8% year-over-year to $1.14 billion for the latest quarter.
• Analyst ratings for Snowflake are predominantly positive, with a consensus of "Moderate Buy" and an average price target of $255.53.

Abacus FCF Advisors LLC bought a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 37,100 shares of the company's stock, valued at approximately $8,302,000.

Other large investors also recently bought and sold shares of the company. Capital Advantage Inc. lifted its position in Snowflake by 1.1% in the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company's stock valued at $987,000 after purchasing an additional 48 shares during the period. Farther Finance Advisors LLC lifted its holdings in Snowflake by 101.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 9,679 shares of the company's stock worth $2,166,000 after buying an additional 4,878 shares in the last quarter. CX Institutional raised its stake in shares of Snowflake by 31.0% in the 2nd quarter. CX Institutional now owns 372 shares of the company's stock valued at $83,000 after purchasing an additional 88 shares in the last quarter. Diversified Trust Co raised its stake in Snowflake by 2.6% during the second quarter. Diversified Trust Co now owns 5,732 shares of the company's stock worth $1,283,000 after acquiring an additional 143 shares during the period. Finally, Perpetual Ltd grew its position in Snowflake by 23.1% in the 2nd quarter. Perpetual Ltd now owns 14,800 shares of the company's stock worth $3,312,000 after purchasing an additional 2,774 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 710,083 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at $38,144,398.29. This represents a 81.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 3,201,381 shares of company stock valued at $714,896,508 in the last ninety days. 6.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on SNOW. Truist Financial increased their target price on shares of Snowflake from $235.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Loop Capital raised their price objective on shares of Snowflake from $220.00 to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. KeyCorp lifted their target price on shares of Snowflake from $250.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. JMP Securities reissued a "market outperform" rating and set a $260.00 target price on shares of Snowflake in a research note on Tuesday, August 26th. Finally, UBS Group lifted their target price on shares of Snowflake from $250.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $255.53.

Snowflake Trading Down 2.3%

Shares of SNOW traded down $5.28 on Tuesday, reaching $224.27. 3,260,094 shares of the company's stock were exchanged, compared to its average volume of 5,346,102. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $75.98 billion, a P/E ratio of -53.81 and a beta of 1.22. The business has a 50 day moving average price of $213.48 and a two-hundred day moving average price of $191.47. Snowflake Inc. has a 12 month low of $108.71 and a 12 month high of $249.99.

Snowflake (NYSE:SNOW - Get Free Report) last issued 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. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $0.18 earnings per share. Research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share 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.