Huntleigh Advisors Inc. Makes New Investment in Snowflake Inc. $SNOW

Key Points

• Huntleigh Advisors Inc. has acquired 2,172 shares of Snowflake Inc. valued at approximately $486,000 in the second quarter, signifying increased institutional interest in the company.
• Insider selling has occurred recently, with SVP Vivek Raghunathan selling 11,801 shares and Director Michael L. Speiser selling 2,976 shares, indicating a reduction in their ownership stakes.
• Snowflake's stock currently trades at $240.68, with a 1-year high of $255.39, alongside an analyst consensus rating of "Moderate Buy" and a target price averaging $256.71.

Huntleigh Advisors Inc. acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,172 shares of the company's stock, valued at approximately $486,000.

Several other large investors also recently modified their holdings of the company. Capital Advantage Inc. increased its position in shares of Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company's stock worth $987,000 after buying an additional 48 shares during the period. Ignite Planners LLC increased its position in shares of Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock worth $418,000 after buying an additional 64 shares during the period. Archford Capital Strategies LLC increased its position in shares of Snowflake by 1.9% during the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock worth $527,000 after buying an additional 68 shares during the period. TD Private Client Wealth LLC increased its position in shares of Snowflake by 8.9% during the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock worth $122,000 after buying an additional 68 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after buying an additional 73 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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 Up 0.3%

Snowflake stock opened at $240.68 on Friday. Snowflake Inc. has a 1-year low of $113.23 and a 1-year high of $255.39. The firm has a market capitalization of $81.54 billion, a price-to-earnings ratio of -58.00 and a beta of 1.21. The firm's fifty day moving average price is $222.38 and its two-hundred day moving average price is $201.96. 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 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. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business's quarterly revenue was up 31.8% compared to the same quarter last year. During the same period last year, the firm earned $0.18 earnings per share. On average, equities research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the topic of several research analyst reports. Citigroup reissued an "outperform" rating on shares of Snowflake in a research note on Thursday, August 28th. Jefferies Financial Group increased their target price on shares of Snowflake from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Cantor Fitzgerald increased their target price on shares of Snowflake from $242.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Royal Bank Of Canada increased their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of Snowflake in a research note on Friday. 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's stock. According to MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and a consensus target price of $256.71.

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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