waypoint wealth counsel Buys 1,528 Shares of Snowflake Inc. $SNOW

Key Points

• Waypoint Wealth Counsel increased its stake in Snowflake Inc. by 97.1% during the second quarter, owning 3,101 shares valued at approximately $694,000.
• Institutional investors now own 65.10% of Snowflake's stock, with several large firms including Kingstone Capital Partners and Nuveen LLC making significant new investments.
• Snowflake recently reported a 31.8% increase in quarterly revenue year-over-year, with earnings per share of $0.35, surpassing analysts' expectations.

waypoint wealth counsel lifted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 97.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,101 shares of the company's stock after acquiring an additional 1,528 shares during the period. waypoint wealth counsel's holdings in Snowflake were worth $694,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SNOW. Kingstone Capital Partners Texas LLC bought a new position in Snowflake in the 2nd quarter worth about $3,900,134,000. Nuveen LLC bought a new position in shares of Snowflake in the first quarter valued at approximately $555,847,000. AQR Capital Management LLC boosted its position in shares of Snowflake by 346.2% in the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company's stock valued at $456,430,000 after acquiring an additional 2,460,769 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Snowflake by 19.2% in 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 acquiring an additional 763,673 shares during the period. Finally, Amundi boosted its position in shares of Snowflake by 72.7% in the first quarter. Amundi now owns 1,808,250 shares of the company's stock valued at $252,974,000 after acquiring an additional 760,923 shares during the period. Institutional investors own 65.10% of the company's stock.

Insider Transactions at Snowflake

In other Snowflake 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 value of $702,365.76. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Emily Ho sold 1,658 shares of the business's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $225.25, for a total value of $373,464.50. Following the completion of the sale, the chief accounting officer directly owned 31,745 shares of the company's stock, valued at approximately $7,150,561.25. This trade represents a 4.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,182,434 shares of company stock worth $270,280,661. Corporate insiders own 6.80% of the company's stock.

Snowflake Trading Down 3.3%

Shares of SNOW stock opened at $242.52 on Friday. The business has a 50-day moving average price of $218.64 and a two-hundred day moving average price of $198.82. The firm has a market cap of $82.17 billion, a P/E ratio of -58.44 and a beta of 1.21. Snowflake Inc. has a 12-month low of $113.23 and a 12-month high of $255.39. 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 (NYSE:SNOW - Get Free Report) last released its 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 company had revenue of $1.14 billion during 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%.Snowflake's quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. Equities analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on SNOW. Cantor Fitzgerald raised their price target on shares of Snowflake from $242.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Wedbush raised their price target on shares of Snowflake from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. DA Davidson reissued a "buy" rating and set a $250.00 price objective on shares of Snowflake in a research note on Monday, August 25th. KeyCorp lifted their price objective on Snowflake from $250.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Snowflake in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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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