Signal Advisors Wealth LLC Takes Position in Snowflake Inc. $SNOW

Signal Advisors Wealth LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,857 shares of the company’s stock, valued at approximately $1,758,000.

A number of other large investors have also recently modified their holdings of the business. Brighton Jones LLC lifted its stake in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after acquiring an additional 29,320 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at about $259,000. Snowden Capital Advisors LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at about $298,000. Toronto Dominion Bank boosted its stake in Snowflake by 9.2% during the 4th quarter. Toronto Dominion Bank now owns 40,655 shares of the company’s stock valued at $6,278,000 after purchasing an additional 3,429 shares during the last quarter. Finally, Vident Advisory LLC boosted its stake in Snowflake by 56.7% during the 4th quarter. Vident Advisory LLC now owns 7,130 shares of the company’s stock valued at $1,101,000 after purchasing an additional 2,580 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other Snowflake news, 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 transaction of $163,652,829.01. Following the transaction, the director owned 165,507 shares in the company, valued at approximately $38,144,398.29. This represents a 81.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 3,224,646 shares of company stock worth $720,005,171. Corporate insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Monness Crespi & Hardt upped their price objective on Snowflake from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Wedbush boosted their target price on shares of Snowflake from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. HSBC cut shares of Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Oppenheimer upped their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Finally, Raymond James Financial upped their target price on shares of Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.53.

Snowflake Price Performance

SNOW stock opened at $221.94 on Friday. The stock has a market cap of $75.19 billion, a PE ratio of -53.48 and a beta of 1.22. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 12 month low of $108.71 and a 12 month high of $249.99. The company has a 50-day moving average price of $212.77 and a 200 day moving average price of $190.26.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. Equities research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.