TFB Advisors LLC Invests $517,000 in Snowflake Inc. $SNOW

TFB Advisors LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 2,311 shares of the company’s stock, valued at approximately $517,000.

Several other large investors have also modified their holdings of SNOW. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snowflake during the second quarter worth approximately $3,900,134,000. Nuveen LLC purchased a new stake in shares of Snowflake during the first quarter worth approximately $555,847,000. AQR Capital Management LLC raised its stake in shares of Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after purchasing an additional 2,460,769 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after purchasing an additional 763,673 shares during the last quarter. Finally, Amundi raised its stake in shares of Snowflake by 72.7% during the first quarter. Amundi now owns 1,808,250 shares of the company’s stock worth $252,974,000 after purchasing an additional 760,923 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 2.3%

Snowflake stock opened at $241.71 on Thursday. 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 firm has a market capitalization of $81.89 billion, a price-to-earnings ratio of -58.24 and a beta of 1.21. Snowflake Inc. has a fifty-two week low of $113.23 and a fifty-two week high of $255.39. The stock’s fifty day moving average is $225.44 and its two-hundred day moving average is $203.78.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.Snowflake’s revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 earnings per share. Analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 2,976 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $236.01, for a total value of $702,365.76. Following the sale, the director owned 34,436 shares of the company’s stock, valued at approximately $8,127,240.36. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $250.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 43,568 shares in the company, valued at $10,892,000. This trade represents a 10.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,182,434 shares of company stock valued at $270,280,661 in the last three months. 6.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNOW. Piper Sandler upped their price objective on Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Evercore ISI upped their price objective on Snowflake from $240.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Morgan Stanley upped their price objective on Snowflake from $262.00 to $272.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Cowen reaffirmed a “buy” rating on shares of Snowflake in a report on Thursday, August 28th. Finally, Bank of America raised Snowflake from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $220.00 to $240.00 in a report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $257.24.

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.