Fairvoy Private Wealth LLC Buys Shares of 4,646 Snowflake Inc. $SNOW

Key Points

• Fairvoy Private Wealth LLC acquired 4,646 shares of Snowflake Inc., valued at approximately $1,040,000, in the second quarter as per their recent SEC filing.
• Several institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have significantly increased their stakes in Snowflake, contributing to institutional ownership of 65.10% of the company.
• Snowflake's quarterly earnings report showed a 31.8% increase in revenue year-over-year, with earnings per share (EPS) beating analysts' expectations at $0.35.

Fairvoy Private Wealth LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,646 shares of the company's stock, valued at approximately $1,040,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNOW. Vanguard Group Inc. boosted its holdings in shares of Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock worth $3,974,705,000 after buying an additional 316,573 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Snowflake during the 2nd quarter worth approximately $3,900,134,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Snowflake by 19.2% during 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 buying an additional 763,673 shares in the last quarter. Nuveen LLC bought a new position in shares of Snowflake during the 1st quarter worth approximately $555,847,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Snowflake by 22.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after buying an additional 650,775 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Insiders Place Their Bets

In related news, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $224.84, for a total value of $90,610.52. Following the completion of the sale, the director directly owned 25,733 shares of the company's stock, valued at approximately $5,785,807.72. This represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Emily Ho sold 1,658 shares of the firm's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $225.25, for a total value of $373,464.50. Following the sale, the chief accounting officer directly owned 31,745 shares of the company's stock, valued at approximately $7,150,561.25. This represents a 4.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,601,630 shares of company stock worth $362,990,571 in the last three months. 6.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SNOW shares. Royal Bank Of Canada increased their price target on Snowflake from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Wedbush increased their target price on Snowflake from $230.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Canaccord Genuity Group increased 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. Raymond James Financial increased their target price on Snowflake from $212.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Finally, The Goldman Sachs Group increased their target price on Snowflake from $230.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and an average price target of $255.53.

Snowflake Trading Down 2.1%

NYSE SNOW opened at $235.42 on Friday. The firm has a market capitalization of $79.76 billion, a P/E ratio of -56.73 and a beta of 1.21. The business has a fifty day simple moving average of $215.94 and a 200 day simple moving average of $195.62. Snowflake Inc. has a 12 month low of $111.15 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 released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion during 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%.Snowflake's quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. On average, analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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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