Callan Family Office LLC Increases Position in Snowflake Inc. $SNOW

Callan Family Office LLC raised its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 255.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,487 shares of the company's stock after purchasing an additional 11,129 shares during the quarter. Callan Family Office LLC's holdings in Snowflake were worth $3,466,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Brighton Jones LLC raised its position in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after purchasing an additional 29,320 shares during the period. Farther Finance Advisors LLC raised its position in Snowflake by 29.2% in the first quarter. Farther Finance Advisors LLC now owns 4,801 shares of the company's stock valued at $718,000 after purchasing an additional 1,085 shares during the period. GAMMA Investing LLC raised its position in Snowflake by 102.8% in the first quarter. GAMMA Investing LLC now owns 793 shares of the company's stock valued at $116,000 after purchasing an additional 402 shares during the period. CX Institutional acquired a new position in shares of Snowflake in the first quarter worth $42,000. Finally, RFG Holdings Inc. grew its stake in shares of Snowflake by 15.0% in the first quarter. RFG Holdings Inc. now owns 5,126 shares of the company's stock worth $749,000 after acquiring an additional 668 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on SNOW shares. Bank of America upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $220.00 to $240.00 in a research note on Wednesday, August 20th. Jefferies Financial Group upped their price objective on shares of Snowflake from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Cowen restated a "buy" rating on shares of Snowflake in a research note on Thursday, August 28th. The Goldman Sachs Group upped their price objective on shares of Snowflake from $230.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Finally, Piper Sandler upped their price objective on shares of Snowflake from $215.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $256.18.

Insider Activity

In related news, EVP Christian Kleinerman sold 10,000 shares of the 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 of the company's stock, valued at $123,132,956. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank Slootman sold 710,083 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the transaction, the director directly owned 165,507 shares of the company's stock, valued at $38,144,398.29. This represents a 81.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,182,434 shares of company stock valued at $270,280,661. Company insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of SNOW opened at $242.52 on Friday. Snowflake Inc. has a fifty-two week low of $113.23 and a fifty-two week high of $255.39. The company has a market capitalization of $82.17 billion, a price-to-earnings ratio of -58.44 and a beta of 1.21. The firm has a 50-day simple moving average of $218.64 and a 200-day simple moving average of $198.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The business's quarterly revenue was up 31.8% compared to the same quarter last year. On average, equities research 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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