OMNI 360 Wealth Inc. Buys 998 Shares of Snowflake Inc. $SNOW

OMNI 360 Wealth Inc. grew its holdings in Snowflake Inc. (NYSE:SNOW) by 43.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,310 shares of the company’s stock after purchasing an additional 998 shares during the period. OMNI 360 Wealth Inc.’s holdings in Snowflake were worth $741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNOW. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake during the first quarter valued at $26,000. CVA Family Office LLC lifted its holdings in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares during the period. Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $31,000. Capital A Wealth Management LLC purchased a new position in Snowflake during the fourth quarter valued at approximately $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 710,083 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $230.47, for a total value of $163,652,829.01. Following the transaction, the director owned 165,507 shares in the company, valued at approximately $38,144,398.29. This represents a 81.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 3,224,389 shares of company stock valued at $719,812,350. Corporate insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SNOW shares. Needham & Company LLC boosted their price objective on Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Citigroup reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, August 28th. Canaccord Genuity Group upped their price target on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Jefferies Financial Group boosted their price objective on Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Finally, Bank of America upgraded Snowflake from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $220.00 to $240.00 in a report on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $255.53.

Snowflake Price Performance

Shares of NYSE SNOW opened at $221.17 on Friday. The stock’s 50-day moving average is $212.83 and its two-hundred day moving average is $189.09. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.58. Snowflake Inc. has a 1-year low of $108.71 and a 1-year high of $249.99. The company has a market cap of $73.84 billion, a price-to-earnings ratio of -53.29 and a beta of 1.22.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share 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 the consensus estimate of $1.09 billion. During the same quarter in the prior year, the business earned $0.18 EPS. Snowflake’s revenue was up 31.8% on a year-over-year basis. Analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal 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.