LRI Investments LLC Buys 1,214 Shares of Snowflake Inc. $SNOW

Key Points

• LRI Investments LLC increased its stake in Snowflake Inc. by 645.7%, acquiring an additional 1,214 shares, bringing their total to 1,402 shares valued at $314,000.
• Institutional investors own 65.10% of Snowflake's stock, with notable increases in holdings from major firms like Goldman Sachs and Vanguard Group Inc..
• Snowflake's stock currently has a market capitalization of $82.17 billion, and the company's quarterly revenue grew by 31.8% year-over-year, reporting $1.14 billion against analyst estimates.

LRI Investments LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 645.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,402 shares of the company's stock after acquiring an additional 1,214 shares during the period. LRI Investments LLC's holdings in Snowflake were worth $314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Snowflake by 1.2% during the first 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 in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Snowflake during the second quarter valued at approximately $3,900,134,000. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $691,693,000 after buying an additional 763,673 shares during the period. Nuveen LLC purchased a new position in Snowflake during the first quarter valued at approximately $555,847,000. Finally, Goldman Sachs Group Inc. increased its holdings in Snowflake by 22.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after buying an additional 650,775 shares during the period. Institutional investors own 65.10% of the company's stock.

Insider Activity

In other news, Director Michael L. Speiser sold 2,976 shares of the business's stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $236.01, for a total transaction of $702,365.76. Following the sale, the director directly owned 34,436 shares of the company's stock, valued at $8,127,240.36. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 7,551 shares of the company's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the completion of the sale, the director directly owned 153,226 shares in the company, valued at approximately $33,899,720.24. The trade was a 4.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,182,434 shares of company stock valued at $270,280,661. 6.80% of the stock is owned by corporate insiders.

Snowflake Price Performance

Shares of SNOW opened at $242.52 on Monday. The firm has a market capitalization of $82.17 billion, a PE ratio of -58.44 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 1-year low of $113.23 and a 1-year high of $255.39. The company's fifty day moving average price is $218.64 and its 200-day moving average price is $199.11.

Snowflake (NYSE:SNOW - Get Free Report) last announced 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 in the previous year, the company earned $0.18 earnings per share. On average, equities research analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Snowflake in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Oppenheimer lifted their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. UBS Group lifted their price target on shares of Snowflake from $285.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Barclays upped their price target on Snowflake from $219.00 to $255.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Two equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and a consensus target price of $256.18.

About Snowflake

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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