Empower Advisory Group LLC Takes $54.12 Million Position in Snowflake Inc. $SNOW

Empower Advisory Group LLC purchased a new position in Snowflake Inc. (NYSE:SNOW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 241,853 shares of the company’s stock, valued at approximately $54,119,000. Empower Advisory Group LLC owned approximately 0.07% of Snowflake at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Trust Co. of Toledo NA OH purchased a new position in Snowflake in the second quarter worth about $25,000. Avion Wealth increased its position in shares of Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 49 shares in the last quarter. Rossby Financial LCC raised its holdings in Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 127 shares during the last quarter. Whittier Trust Co. lifted its position in Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after acquiring an additional 82 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Snowflake by 417.2% during the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNOW has been the subject of several recent analyst reports. UBS Group boosted their price target on Snowflake from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Needham & Company LLC boosted their target price on Snowflake from $230.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Raymond James Financial upped their target price 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. Citigroup reaffirmed a “market outperform” rating on shares of Snowflake in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $259.89.

Insider Transactions at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $257.29, for a total transaction of $103,687.87. Following the completion of the sale, the director owned 24,927 shares of the company’s stock, valued at approximately $6,413,467.83. The trade was a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $277.73, for a total value of $2,777,300.00. Following the completion of the transaction, the executive vice president directly owned 522,450 shares in the company, valued at $145,100,038.50. This trade represents a 1.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 931,388 shares of company stock worth $216,578,628 in the last three months. Corporate insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $257.40 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $87.21 billion, a PE ratio of -62.02 and a beta of 1.23. The firm’s 50 day moving average price is $244.05 and its 200-day moving average price is $218.84. Snowflake Inc. has a twelve month low of $120.10 and a twelve month 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, beating analysts’ consensus estimates 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 business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $0.18 earnings per share. The firm’s revenue was up 31.8% on a year-over-year basis. Equities research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

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.