Exencial Wealth Advisors LLC Takes $240,000 Position in Snowflake Inc. $SNOW

Key Points

• Exencial Wealth Advisors LLC has acquired a $240,000 position in Snowflake Inc., purchasing 1,072 shares during the second quarter.
• Institutional investors now hold approximately 65.10% of Snowflake's stock, with other notable investors including Vanguard Group Inc. and Goldman Sachs Group Inc. having increased their stakes recently.
• Recent insider transactions include the sale of 11,801 shares by SVP Vivek Raghunathan and 2,976 shares by Director Michael L. Speiser, reflecting a decrease in their ownership of the company.

Exencial Wealth Advisors LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,072 shares of the company's stock, valued at approximately $240,000.

A number of other institutional investors also recently modified their holdings of SNOW. Vanguard Group Inc. boosted its stake in Snowflake by 1.2% during the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock worth $3,974,705,000 after acquiring an additional 316,573 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Snowflake during the second quarter worth $3,900,134,000. Price T Rowe Associates Inc. MD boosted its stake in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock worth $691,693,000 after acquiring an additional 763,673 shares in the last quarter. Nuveen LLC bought a new position in Snowflake during the first quarter worth $555,847,000. Finally, Goldman Sachs Group Inc. boosted its stake in Snowflake by 22.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after acquiring an additional 650,775 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president owned 241,854 shares in the company, valued at $53,986,649.88. This represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael L. Speiser sold 2,976 shares of the 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 owned 34,436 shares of the company's stock, valued at approximately $8,127,240.36. This represents a 7.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,182,434 shares of company stock valued at $270,280,661 over the last 90 days. 6.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

Shares of SNOW stock opened at $257.84 on Friday. The firm has a 50-day moving average of $227.78 and a 200-day moving average of $205.48. The company has a market cap of $87.36 billion, a P/E ratio of -62.13 and a beta of 1.21. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. Snowflake Inc. has a one year low of $113.23 and a one year high of $259.75.

Snowflake (NYSE:SNOW - Get Free Report) last announced 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 company 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 firm's revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. Equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the topic of several research analyst reports. Wedbush increased their target price on shares of Snowflake from $250.00 to $270.00 and gave the stock an "outperform" rating in a research note on Monday, October 20th. Scotiabank increased their target price on shares of Snowflake from $230.00 to $280.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Wells Fargo & Company assumed coverage on shares of Snowflake in a research note on Tuesday, September 30th. They set an "overweight" rating and a $275.00 target price on the stock. Needham & Company LLC upped their price objective on shares of Snowflake from $230.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Snowflake in a report on Friday. Two investment 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 given a Sell rating to the stock. Based on data from MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and an average target price of $257.24.

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.

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