NBC Securities Inc. Grows Holdings in Snowflake Inc. $SNOW

NBC Securities Inc. raised its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 66.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,208 shares of the company's stock after buying an additional 2,475 shares during the period. NBC Securities Inc.'s holdings in Snowflake were worth $1,389,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC purchased a new position in Snowflake in the second quarter valued at $297,000. Modus Advisors LLC purchased a new position in Snowflake in the second quarter valued at $282,000. OMNI 360 Wealth Inc. grew its position in shares of Snowflake by 43.2% in the second quarter. OMNI 360 Wealth Inc. now owns 3,310 shares of the company's stock valued at $741,000 after purchasing an additional 998 shares during the period. Harbor Investment Advisory LLC grew its position in shares of Snowflake by 145.2% in the second quarter. Harbor Investment Advisory LLC now owns 4,117 shares of the company's stock valued at $921,000 after purchasing an additional 2,438 shares during the period. Finally, Kera Capital Partners Inc. acquired a new stake in shares of Snowflake in the second quarter valued at about $676,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Stock Performance

SNOW opened at $225.51 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $76.40 billion, a PE ratio of -54.34 and a beta of 1.22. The firm's 50-day moving average price is $212.83 and its 200 day moving average price is $189.54. Snowflake Inc. has a twelve month low of $108.71 and a twelve month high of $249.99.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. The company 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%. Snowflake's revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 EPS. As a group, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

SNOW has been the topic of several research analyst reports. Royal Bank Of Canada lifted their target price on shares of Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Cowen reiterated a "buy" rating on shares of Snowflake in a research report on Thursday, August 28th. Bank of America upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and lifted their target price for the company from $220.00 to $240.00 in a research report on Wednesday, August 20th. Mizuho lifted their target price on shares of Snowflake from $235.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Finally, Wedbush lifted their target price on shares of Snowflake from $230.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.53.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the transaction, the director directly owned 165,507 shares in the company, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 3,214,120 shares of company stock valued at $717,676,398. 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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