RFG Advisory LLC Takes Position in Snowflake Inc. $SNOW

RFG Advisory LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,683 shares of the company's stock, valued at approximately $377,000.

A number of other institutional investors also recently modified their holdings of SNOW. Brighton Jones LLC lifted its holdings in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after purchasing an additional 29,320 shares in the last quarter. GAMMA Investing LLC raised its holdings in Snowflake by 102.8% during the first quarter. GAMMA Investing LLC now owns 793 shares of the company's stock worth $116,000 after acquiring an additional 402 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Snowflake by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 46,547 shares of the company's stock worth $6,803,000 after acquiring an additional 1,426 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Snowflake by 10.6% during the first quarter. Janney Montgomery Scott LLC now owns 48,538 shares of the company's stock worth $7,094,000 after acquiring an additional 4,661 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in Snowflake during the first quarter worth about $481,000. 65.10% of the stock is currently owned by institutional investors.

Insider Transactions at Snowflake

In other news, SVP Vivek Raghunathan sold 11,801 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the transaction, the senior vice president owned 241,854 shares of the company's stock, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 710,083 shares of the company's stock in a transaction that occurred on 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 completion of 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 disclosure for this sale can be found here. Insiders sold a total of 1,182,434 shares of company stock worth $270,280,661 over the last three months. Company insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $240.68 on Friday. The business's 50 day moving average price is $222.38 and its two-hundred day moving average price is $201.96. The company has a market cap of $81.54 billion, a PE ratio of -58.00 and a beta of 1.21. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a twelve month low of $113.23 and a twelve month high of $255.39.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business's revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. On average, analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on SNOW. DA Davidson reiterated a "buy" rating and set a $250.00 target price on shares of Snowflake in a report on Monday, August 25th. Monness Crespi & Hardt upped their target price on Snowflake from $245.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Macquarie upped their target price on Snowflake from $210.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a report on Thursday, August 28th. Finally, Canaccord Genuity Group upped their target price on Snowflake from $220.00 to $260.00 and gave the stock a "buy" rating in a 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 issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus price target 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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