Fiduciary Planning LLC Makes New Investment in Snowflake Inc. $SNOW

Key Points

• Fiduciary Planning LLC has made a new investment in Snowflake Inc., acquiring 1,599 shares valued at approximately $358,000.
• Several institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have significantly increased their stakes in Snowflake, indicating strong institutional interest.
• Snowflake recently reported earnings exceeding analyst expectations, with $1.14 billion in revenue for the quarter, reflecting a 31.8% year-over-year increase.

Fiduciary Planning LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,599 shares of the company's stock, valued at approximately $358,000.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock valued at $3,974,705,000 after acquiring an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of Snowflake during the second quarter worth $3,900,134,000. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $691,693,000 after purchasing an additional 763,673 shares during the period. Nuveen LLC purchased a new stake in shares of Snowflake during the first quarter valued at $555,847,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Snowflake by 22.2% in the first 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 last quarter. Institutional investors own 65.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Snowflake in a report on Tuesday, September 30th. They set an "overweight" rating and a $275.00 price objective for the company. Mizuho lifted their price target on shares of Snowflake from $235.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Robert W. Baird increased their price objective on Snowflake from $215.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Scotiabank lifted their target price on Snowflake from $230.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Finally, Wedbush upped 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.71.

Snowflake Trading Up 0.3%

NYSE SNOW opened at $240.68 on Monday. Snowflake Inc. has a 1 year low of $113.23 and a 1 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 capitalization of $81.54 billion, a PE ratio of -58.00 and a beta of 1.21. The company has a fifty day moving average of $222.38 and a 200 day moving average of $202.40.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business posted $0.18 EPS. The company's revenue was up 31.8% on a year-over-year basis. Research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the sale, the director directly owned 165,507 shares of the company's stock, valued at $38,144,398.29. This trade represents a 81.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the sale, the executive vice president owned 527,336 shares of the company's stock, valued at approximately $123,132,956. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,182,434 shares of company stock worth $270,280,661 in the last quarter. Company insiders own 6.80% of the company's stock.

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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