Focus Partners Advisor Solutions LLC Has $1.50 Million Holdings in Snowflake Inc. $SNOW

Focus Partners Advisor Solutions LLC raised its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 373.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,272 shares of the company's stock after buying an additional 8,104 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Snowflake were worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SNOW. Nuveen LLC acquired a new position in Snowflake during the first quarter valued at approximately $555,847,000. Price T Rowe Associates Inc. MD boosted its position 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 worth $691,693,000 after purchasing an additional 763,673 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of 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 purchasing an additional 650,775 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Snowflake by 26.5% in the 1st quarter. Invesco Ltd. now owns 3,088,288 shares of the company's stock valued at $451,384,000 after buying an additional 647,176 shares during the period. Finally, 1832 Asset Management L.P. increased its position in shares of Snowflake by 51.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,571,800 shares of the company's stock valued at $229,734,000 after buying an additional 535,160 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SNOW. Stephens began coverage on Snowflake in a research note on Friday, July 18th. They issued an "overweight" rating and a $261.00 target price for the company. DA Davidson reiterated a "buy" rating and issued a $250.00 price objective on shares of Snowflake in a research report on Monday, August 25th. Evercore ISI raised their target price on shares of Snowflake from $240.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Stifel Nicolaus lifted their price target on shares of Snowflake from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Finally, Raymond James Financial increased their price objective on shares of Snowflake from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $255.53.

Snowflake Stock Performance

Shares of SNOW stock opened at $233.62 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $249.99. The company's fifty day simple moving average is $212.12 and its 200-day simple moving average is $186.53. The firm has a market cap of $78.00 billion, a PE ratio of -56.29 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 41.42%. The company's revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. Equities research analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the firm'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 value of $163,652,829.01. Following the completion of the transaction, the director directly owned 165,507 shares in the company, valued at $38,144,398.29. This trade represents a 81.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 3,216,909 shares of company stock worth $717,287,181 over the last ninety days. Corporate 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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