Frank Rimerman Advisors LLC Buys 926 Shares of Snowflake Inc. $SNOW

Frank Rimerman Advisors LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 26.5% during the second quarter, Holdings Channel reports. The institutional investor owned 4,423 shares of the company’s stock after purchasing an additional 926 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Snowflake were worth $990,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in Snowflake by 13.4% in the first quarter. Kingsview Wealth Management LLC now owns 2,767 shares of the company’s stock worth $404,000 after purchasing an additional 326 shares during the period. Private Advisor Group LLC boosted its stake in Snowflake by 7.2% during the first quarter. Private Advisor Group LLC now owns 25,041 shares of the company’s stock worth $3,660,000 after buying an additional 1,678 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in Snowflake by 38.8% in the 1st quarter. Kestra Private Wealth Services LLC now owns 7,048 shares of the company’s stock valued at $1,030,000 after buying an additional 1,969 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of Snowflake by 96.6% during the 1st quarter. IFP Advisors Inc now owns 9,572 shares of the company’s stock worth $1,399,000 after acquiring an additional 4,703 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Up 0.7%

SNOW stock opened at $254.58 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $86.25 billion, a price-to-earnings ratio of -61.35 and a beta of 1.23. The business has a fifty day moving average price of $245.17 and a 200 day moving average price of $220.49. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67.

Snowflake (NYSE:SNOW) last announced its 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 return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the business earned $0.18 earnings per share. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. Analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $295.00 target price on shares of Snowflake in a research note on Friday, October 17th. Macquarie lifted their price objective on Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. JMP Securities increased their target price on Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group raised their target price on Snowflake from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, The Goldman Sachs Group boosted their price target on Snowflake from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Two research 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 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 a consensus price target of $262.39.

Insider Buying and Selling at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $257.29, for a total transaction of $103,687.87. Following the sale, the director directly owned 24,927 shares of the company’s stock, valued at $6,413,467.83. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the completion of the transaction, the executive vice president owned 522,450 shares of the company’s stock, valued at $145,100,038.50. This trade represents a 1.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 931,388 shares of company stock worth $216,578,628. 6.80% of the stock is currently owned by corporate insiders.

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.