Archford Capital Strategies LLC Has $393,000 Position in Snowflake Inc. $SNOW

Key Points

• Archford Capital Strategies LLC has reduced its stake in Snowflake Inc. by 51.4%, holding 1,755 shares worth approximately $393,000 at the end of the second quarter.
• Several institutional investors have increased their investments in Snowflake, with notable boosts from CVA Family Office LLC (80%) and Golden State Wealth Management LLC (748%) during the first quarter.
• Snowflake reported earnings of $0.35 per share for the latest quarter, surpassing analyst expectations, with a revenue of $1.14 billion, marking a 31.8% increase compared to last year.

Archford Capital Strategies LLC reduced its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 51.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,755 shares of the company's stock after selling 1,854 shares during the period. Archford Capital Strategies LLC's holdings in Snowflake were worth $393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Snowflake during the first quarter worth about $26,000. CVA Family Office LLC boosted its position in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Snowflake by 748.0% during the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company's stock worth $31,000 after buying an additional 187 shares during the period. Tradewinds Capital Management LLC boosted its position in shares of Snowflake by 53.1% during the first quarter. Tradewinds Capital Management LLC now owns 245 shares of the company's stock worth $36,000 after buying an additional 85 shares during the period. Finally, CX Institutional acquired a new position in shares of Snowflake during the first quarter worth about $42,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 7,551 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total value of $1,670,583.24. Following the sale, the director owned 153,226 shares in the company, valued at $33,899,720.24. This represents a 4.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 2,611 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $230.48, for a total value of $601,783.28. Following the completion of the sale, the executive vice president owned 542,450 shares in the company, valued at $125,023,876. This represents a 0.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,947,739 shares of company stock worth $438,614,781 over the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

NYSE:SNOW opened at $225.76 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock's 50 day moving average price is $214.49 and its two-hundred day moving average price is $194.01. The firm has a market capitalization of $76.49 billion, a price-to-earnings ratio of -54.40 and a beta of 1.22. 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 released its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates 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 for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Royal Bank Of Canada upped their price objective on Snowflake from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Stifel Nicolaus upped their target price on Snowflake from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Cowen reiterated a "buy" rating on shares of Snowflake in a report on Thursday, August 28th. Scotiabank upped their target price on Snowflake from $230.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Finally, Needham & Company LLC upped their target price on Snowflake from $230.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average 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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