Mutual Advisors LLC Acquires New Stake in Snowflake Inc. $SNOW

Mutual Advisors LLC bought a new position in Snowflake Inc. (NYSE:SNOW) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 1,285 shares of the company’s stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Generali Asset Management SPA SGR grew its holdings in shares of Snowflake by 0.9% during the 2nd quarter. Generali Asset Management SPA SGR now owns 9,993 shares of the company’s stock worth $2,236,000 after purchasing an additional 91 shares during the period. Sagespring Wealth Partners LLC grew its holdings in shares of Snowflake by 29.3% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 3,205 shares of the company’s stock worth $717,000 after purchasing an additional 727 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in shares of Snowflake by 70.9% during the 2nd quarter. Wilmington Savings Fund Society FSB now owns 3,072 shares of the company’s stock worth $687,000 after purchasing an additional 1,274 shares during the period. RFG Advisory LLC purchased a new position in shares of Snowflake during the 2nd quarter worth $377,000. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Snowflake during the 2nd quarter worth $1,004,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of SNOW opened at $247.52 on Wednesday. The stock has a 50-day simple moving average of $224.55 and a 200-day simple moving average of $203.51. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $83.86 billion, a PE ratio of -59.64 and a beta of 1.21. Snowflake Inc. has a 1 year low of $113.23 and a 1 year high of $255.39.

Snowflake (NYSE:SNOW) last announced 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. The business 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 business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. On average, analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Tuesday, September 2nd. The stock was 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 in the company, valued at approximately $123,132,956. This trade represents a 1.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the transaction, the senior vice president owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The disclosure for this sale can be found here. Over 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 corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, October 8th. JMP Securities restated a “market outperform” rating and set a $260.00 target price on shares of Snowflake in a report on Tuesday, August 26th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Snowflake in a report on Friday, October 17th. Finally, Sanford C. Bernstein raised their target price on Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $257.24.

Snowflake Company 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.