Snowflake Inc. $SNOW Shares Bought by IFP Advisors Inc

IFP Advisors Inc raised its holdings in Snowflake Inc. (NYSE:SNOW) by 20.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,554 shares of the company’s stock after acquiring an additional 1,982 shares during the period. IFP Advisors Inc’s holdings in Snowflake were worth $2,585,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital Advantage Inc. boosted its position in shares of Snowflake by 1.1% during the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after acquiring an additional 48 shares during the last quarter. Ignite Planners LLC boosted its position in shares of Snowflake by 2.3% during the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock valued at $418,000 after acquiring an additional 64 shares during the last quarter. Archford Capital Strategies LLC increased its holdings in shares of Snowflake by 1.9% during the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock worth $527,000 after buying an additional 68 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of Snowflake by 8.9% during the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock valued at $122,000 after buying an additional 68 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Snowflake by 29.7% in the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after acquiring an additional 73 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW opened at $242.52 on Friday. The stock’s 50-day moving average price is $218.64 and its 200 day moving average price is $198.54. Snowflake Inc. has a 12-month low of $113.23 and a 12-month high of $255.39. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a market cap of $82.17 billion, a price-to-earnings ratio of -58.44 and a beta of 1.21.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company earned $0.18 EPS. Snowflake’s revenue was up 31.8% on a year-over-year basis. As a group, sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total value of $2,335,000.00. Following the completion of the transaction, the executive vice president owned 527,336 shares of the company’s stock, valued at $123,132,956. This trade represents a 1.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $208.69, for a total transaction of $10,505,037.22. Following the completion of the transaction, the director directly owned 36,116 shares of the company’s stock, valued at $7,537,048.04. This represents a 58.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,182,434 shares of company stock worth $270,280,661. 6.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on SNOW. KeyCorp raised their target price on Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Oppenheimer raised their price objective on Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. UBS Group upped their target price on shares of Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho increased their target price on shares of Snowflake from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Finally, Citigroup reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, August 28th. Two investment 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 assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $256.18.

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.