Toth Financial Advisory Corp Increases Stock Position in Snowflake Inc. $SNOW

Key Points

• Toth Financial Advisory Corp significantly increased its stake in Snowflake Inc. by 3,500% during Q2, now owning 3,600 shares valued at approximately $806,000.
• Insider trading saw Director Frank Slootman sell over 710,000 shares, reducing his ownership by 81.1% while insiders sold a total of 3.2 million shares worth around $719 million in the last 90 days.
• Equities research analysts have raised their price targets for Snowflake, with estimates now ranging from $245 to $280, indicating a strong market interest and an overall consensus rating of "Moderate Buy."

Toth Financial Advisory Corp lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 3,500.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,600 shares of the company's stock after purchasing an additional 3,500 shares during the period. Toth Financial Advisory Corp's holdings in Snowflake were worth $806,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings 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 purchasing an additional 316,573 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Snowflake during the 2nd quarter worth approximately $3,900,134,000. Price T Rowe Associates Inc. MD increased its holdings in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock worth $691,693,000 after acquiring an additional 763,673 shares in the last quarter. Nuveen LLC acquired a new position in shares of Snowflake during the 1st quarter valued at about $555,847,000. Finally, Goldman Sachs Group Inc. lifted 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. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $224.84, for a total transaction of $90,610.52. Following the sale, the director owned 25,733 shares of the company's stock, valued at $5,785,807.72. The trade was a 1.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 2,975 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $658,189.00. Following the completion of the transaction, the executive vice president owned 547,724 shares of the company's stock, valued at $121,178,457.76. This trade represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,222,036 shares of company stock valued at $719,457,410 in the last 90 days. 6.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on SNOW. Stifel Nicolaus lifted their price target on Snowflake from $220.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. KeyCorp increased their target price on Snowflake from $250.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Royal Bank Of Canada raised their target price on Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. CICC Research initiated coverage on Snowflake in a research note on Friday, June 20th. They set an "outperform" rating and a $225.00 price target for the company. Finally, DA Davidson reaffirmed a "buy" rating and issued a $250.00 target price on shares of Snowflake in a report on Monday, August 25th. Two investment 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $255.53.

Snowflake Stock Performance

Shares of Snowflake stock traded down $1.07 during trading on Monday, reaching $229.41. The company's stock had a trading volume of 3,213,134 shares, compared to its average volume of 8,027,547. 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 52 week low of $108.71 and a 52 week high of $249.99. The firm has a market cap of $77.72 billion, a PE ratio of -55.28 and a beta of 1.22. The business's 50-day moving average price is $213.48 and its 200-day moving average price is $191.47.

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 the consensus estimate of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the business posted $0.18 EPS. Snowflake's revenue for the quarter was up 31.8% on a year-over-year basis. Equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.