Snowflake Inc. $SNOW Shares Acquired by Blue Trust Inc.

Blue Trust Inc. increased its stake in Snowflake Inc. (NYSE:SNOW) by 798.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,529 shares of the company’s stock after acquiring an additional 3,136 shares during the period. Blue Trust Inc.’s holdings in Snowflake were worth $790,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SNOW. Capital Advantage Inc. lifted its position in Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after buying an additional 48 shares in the last quarter. Ignite Planners LLC lifted its position in Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock valued at $418,000 after buying an additional 64 shares in the last quarter. Archford Capital Strategies LLC lifted its position in Snowflake by 1.9% during the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock valued at $527,000 after buying an additional 68 shares in the last quarter. TD Private Client Wealth LLC lifted its position in Snowflake by 8.9% during the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock valued at $122,000 after buying an additional 68 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after buying an additional 73 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Down 3.3%

Shares of NYSE:SNOW opened at $242.52 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a fifty day simple moving average of $218.64 and a 200 day simple moving average of $198.82. The firm has a market cap of $82.17 billion, a PE ratio of -58.44 and a beta of 1.21. Snowflake Inc. has a 12-month low of $113.23 and a 12-month high of $255.39.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business’s revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, equities research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael L. Speiser sold 2,976 shares of Snowflake stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $236.01, for a total value of $702,365.76. Following the completion of the sale, the director owned 34,436 shares in the company, valued at approximately $8,127,240.36. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the sale, the senior vice president owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,182,434 shares of company stock valued at $270,280,661. 6.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on SNOW shares. KeyCorp lifted their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Wells Fargo & Company initiated coverage on shares of Snowflake in a research report on Tuesday, September 30th. They set an “overweight” rating and a $275.00 price target on the stock. Evercore ISI lifted their price objective on shares of Snowflake from $240.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Sanford C. Bernstein lifted their price objective on shares of Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a research note on Thursday, August 28th. Finally, Robert W. Baird lifted their price objective on shares of Snowflake from $215.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Two investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.18.

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.