Capital Asset Advisory Services LLC Acquires Shares of 1,377 Snowflake Inc. $SNOW

Key Points

• Capital Asset Advisory Services LLC has acquired 1,377 shares of Snowflake Inc., valued at approximately $297,000, marking a significant investment in the cloud-based data platform firm's stock.
• Recent analyst ratings for Snowflake show a range of opinions, with Piper Sandler raising the price target to $285 and an overall consensus rating of "Moderate Buy" with a target of $255.53.
• Director Frank Slootman sold over 710,000 shares of Snowflake, reducing his position in the company by 81.1% amid broader insider selling of over 3.2 million shares in the past 90 days.

Capital Asset Advisory Services LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,377 shares of the company's stock, valued at approximately $297,000.

Other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake during the 1st quarter valued at about $26,000. CVA Family Office LLC raised its stake in shares of Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after buying an additional 88 shares during the last quarter. Spurstone Advisory Services LLC purchased a new position in shares of Snowflake in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC purchased a new position in shares of Snowflake in the 4th quarter valued at about $31,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Snowflake by 748.0% in the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company's stock valued at $31,000 after purchasing an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

SNOW has been the subject of several recent analyst reports. Piper Sandler lifted their price target on Snowflake from $215.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Loop Capital lifted their price target on Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Hsbc Global Res lowered Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. CICC Research initiated coverage on Snowflake in a research note on Friday, June 20th. They issued an "outperform" rating and a $225.00 price target for the company. Finally, Evercore ISI lifted their price target on Snowflake from $240.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.53.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 710,083 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 3,224,389 shares of company stock worth $719,812,350. Insiders own 6.80% of the company's stock.

Snowflake Trading Down 1.5%

SNOW stock opened at $221.17 on Monday. The stock has a market cap of $74.93 billion, a price-to-earnings ratio of -53.29 and a beta of 1.22. The business's 50-day moving average is $212.83 and its 200 day moving average is $189.20. Snowflake Inc. has a 12-month low of $108.71 and a 12-month high of $249.99. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW - Get Free Report) last issued 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. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations 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 period in the previous year, the firm posted $0.18 EPS. On average, sell-side analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal 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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