Snowflake Inc. $SNOW Shares Purchased by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,787 shares of the company’s stock after purchasing an additional 775 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Snowflake were worth $1,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trust Co. of Toledo NA OH acquired a new position in shares of Snowflake during the second quarter valued at $25,000. Golden State Wealth Management LLC boosted its holdings in shares of Snowflake by 748.0% during the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock valued at $31,000 after acquiring an additional 187 shares during the period. HighMark Wealth Management LLC boosted its holdings in shares of Snowflake by 200.0% during the second quarter. HighMark Wealth Management LLC now owns 225 shares of the company’s stock valued at $50,000 after acquiring an additional 150 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Snowflake during the second quarter valued at $53,000. Finally, Hilltop National Bank acquired a new position in shares of Snowflake during the second quarter valued at $53,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, October 8th. Morgan Stanley boosted their price target on shares of Snowflake from $262.00 to $272.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. lifted their price objective on shares of Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. KeyCorp lifted their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Finally, Raymond James Financial lifted their price objective on shares of Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $257.24.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,658 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total transaction of $373,464.50. Following the sale, the chief accounting officer owned 31,745 shares in the company, valued at approximately $7,150,561.25. The trade was a 4.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 7,551 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total value of $1,670,583.24. Following the completion of the sale, the director directly owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. The trade was a 4.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,182,434 shares of company stock worth $270,280,661. 6.80% of the stock is owned by company insiders.

Snowflake Price Performance

Shares of Snowflake stock opened at $245.74 on Tuesday. 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 company’s 50-day moving average price is $223.46 and its two-hundred day moving average price is $203.20. Snowflake Inc. has a 52 week low of $113.23 and a 52 week high of $255.39. The stock has a market cap of $83.26 billion, a PE ratio of -59.21 and a beta of 1.21.

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