Snowflake Inc. $SNOW Shares Acquired by True Wealth Design LLC

True Wealth Design LLC raised its position in Snowflake Inc. (NYSE:SNOW) by 61.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 877 shares of the company’s stock after purchasing an additional 334 shares during the quarter. True Wealth Design LLC’s holdings in Snowflake were worth $196,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SNOW. Vanguard Group Inc. increased its position in shares of Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after acquiring an additional 316,573 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake in the 2nd quarter valued at $3,900,134,000. Jennison Associates LLC lifted its stake in shares of Snowflake by 20.5% during the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after purchasing an additional 1,363,389 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after purchasing an additional 763,673 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Snowflake in the first quarter worth about $555,847,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Emily Ho sold 1,658 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total value of $373,464.50. Following the completion of the transaction, the chief accounting officer directly owned 31,745 shares of the company’s stock, valued at $7,150,561.25. This represents a 4.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the director directly owned 34,436 shares in the company, valued at $8,127,240.36. The trade was a 7.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 880,647 shares of company stock worth $203,522,973 in the last 90 days. 6.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating and set a $295.00 target price on shares of Snowflake in a report on Friday, October 17th. Cowen reaffirmed a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Stifel Nicolaus boosted their target price on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Monness Crespi & Hardt lifted their price target on shares of Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Cantor Fitzgerald upped their price objective on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research 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 issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $258.95.

Snowflake Price Performance

Shares of SNOW stock opened at $262.72 on Friday. The firm has a fifty day moving average of $240.55 and a two-hundred day moving average of $214.54. The firm has a market cap of $89.01 billion, a P/E 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 company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $0.18 EPS. Snowflake’s quarterly revenue was up 31.8% compared to the same quarter last year. As a group, research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.