Axxcess Wealth Management LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,488 shares of the company's stock, valued at approximately $1,004,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Snowflake by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock valued at $3,974,705,000 after buying an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Snowflake in the 2nd quarter worth $3,900,134,000. Price T Rowe Associates Inc. MD boosted its stake in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock worth $691,693,000 after purchasing an additional 763,673 shares during the period. Nuveen LLC acquired a new position in Snowflake in the 1st quarter worth $555,847,000. Finally, Goldman Sachs Group Inc. boosted its stake in Snowflake by 22.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after purchasing an additional 650,775 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Mizuho upped their target price on shares of Snowflake from $235.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Stephens assumed coverage on shares of Snowflake in a research note on Friday, July 18th. They issued an "overweight" rating and a $261.00 target price for the company. Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a research note on Thursday, August 28th. JPMorgan Chase & Co. upped their target price on shares of Snowflake from $225.00 to $255.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Finally, Bank of America raised shares of Snowflake from a "neutral" rating to a "buy" rating and upped their target price for the stock from $220.00 to $240.00 in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Snowflake has an average rating of "Moderate Buy" and a consensus price target of $256.18.
Check Out Our Latest Analysis on SNOW
Snowflake Trading Down 0.3%
Snowflake stock opened at $240.20 on Friday. The firm has a 50-day moving average of $221.40 and a 200-day moving average of $201.00. Snowflake Inc. has a one year low of $113.23 and a one year high of $255.39. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $81.38 billion, a price-to-earnings ratio of -57.88 and a beta of 1.21.
Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $0.18 EPS. The company's quarterly revenue was up 31.8% on a year-over-year basis. On average, equities analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Frank Slootman sold 7,551 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total value of $1,670,583.24. Following the sale, the director directly owned 153,226 shares of the company's stock, valued at approximately $33,899,720.24. This represents a 4.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 2,976 shares of the company's stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $236.01, for a total transaction of $702,365.76. Following the completion of the sale, the director directly owned 34,436 shares in the company, valued at approximately $8,127,240.36. The trade was a 7.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,182,434 shares of company stock worth $270,280,661 in the last 90 days. 6.80% of the stock is owned by corporate insiders.
Snowflake Profile
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Free Report)
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.
Further Reading
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).
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