Wilmington Savings Fund Society FSB lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 70.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,072 shares of the company's stock after acquiring an additional 1,274 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Snowflake were worth $687,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in SNOW. Brighton Jones LLC boosted its stake in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after acquiring an additional 29,320 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Snowflake by 102.8% during the 1st 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 boosted its stake in shares of Snowflake by 3.2% during the 1st 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. Dynamic Advisor Solutions LLC bought a new stake in shares of Snowflake during the 1st quarter worth about $377,000. Finally, Ritholtz Wealth Management bought a new stake in shares of Snowflake during the 1st quarter worth about $355,000. Institutional investors own 65.10% of the company's stock.
Insider Buying and Selling
In other news, EVP Christian Kleinerman sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $250.00, for a total value of $1,250,000.00. Following the sale, the executive vice president directly owned 43,568 shares in the company, valued at approximately $10,892,000. This represents a 10.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Emily Ho sold 1,658 shares of the company's stock in a transaction that occurred on 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 owned 31,745 shares in the company, valued at approximately $7,150,561.25. This represents a 4.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,182,434 shares of company stock worth $270,280,661. Insiders own 6.80% of the company's stock.
Wall Street Analysts Forecast Growth
SNOW has been the subject of several research analyst reports. Citigroup reissued an "outperform" rating on shares of Snowflake in a research report on Thursday, August 28th. Rosenblatt Securities boosted their price objective on Snowflake from $210.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Jefferies Financial Group boosted their price objective on Snowflake from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. The Goldman Sachs Group boosted their price objective on Snowflake from $230.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Finally, Robert W. Baird boosted their price objective on Snowflake from $215.00 to $260.00 and gave the stock 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 given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $256.18.
Check Out Our Latest Analysis on Snowflake
Snowflake Trading Down 0.3%
Snowflake stock opened at $240.20 on Friday. The business has a 50 day moving average price of $221.40 and a two-hundred day moving average price of $201.00. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock has a market cap of $81.38 billion, a price-to-earnings ratio of -57.88 and a beta of 1.21. Snowflake Inc. has a 12 month low of $113.23 and a 12 month high of $255.39.
Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company's revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 EPS. As a group, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.
About Snowflake
(
Free Report)
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.
Further Reading
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