Savant Capital LLC Purchases 1,558 Shares of Snowflake Inc. $SNOW

Savant Capital LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 2.4% in the second quarter, Holdings Channel reports. The institutional investor owned 65,848 shares of the company’s stock after buying an additional 1,558 shares during the period. Savant Capital LLC’s holdings in Snowflake were worth $14,735,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in 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 acquiring an additional 29,320 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Snowflake by 10.0% in the first quarter. Concurrent Investment Advisors LLC now owns 2,376 shares of the company’s stock worth $347,000 after purchasing an additional 216 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Snowflake by 12.1% in the first quarter. Envestnet Asset Management Inc. now owns 294,981 shares of the company’s stock worth $43,114,000 after purchasing an additional 31,908 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in Snowflake by 8.9% during the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock worth $122,000 after purchasing an additional 68 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in Snowflake by 36.5% in the first quarter. Crossmark Global Holdings Inc. now owns 2,196 shares of the company’s stock valued at $321,000 after purchasing an additional 587 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SNOW shares. Needham & Company LLC boosted their price target on shares of Snowflake from $230.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Wells Fargo & Company assumed coverage on Snowflake in a report on Tuesday, September 30th. They set an “overweight” rating and a $275.00 target price on the stock. Oppenheimer restated an “outperform” rating and issued a $295.00 price target on shares of Snowflake in a research note on Friday, October 17th. Bank of America raised Snowflake from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $220.00 to $240.00 in a research report on Wednesday, August 20th. Finally, Evercore ISI increased their price objective on Snowflake from $240.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Two equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $258.95.

Snowflake Stock Down 0.8%

SNOW stock opened at $262.72 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 firm has a market capitalization of $89.01 billion, a PE ratio of -63.31 and a beta of 1.23. Snowflake Inc. has a 1-year low of $119.66 and a 1-year high of $280.67. The business’s 50 day simple moving average is $240.55 and its 200 day simple moving average is $214.54.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $0.18 EPS. The company’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 47,362 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $236.32, for a total transaction of $11,192,587.84. Following the completion of the sale, the director directly owned 34,892 shares in the company, valued at $8,245,677.44. This trade represents a 57.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value 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. This represents a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 880,647 shares of company stock worth $203,522,973. 6.80% of the stock is owned by corporate insiders.

About Snowflake

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.