Snowflake Inc. $SNOW Shares Newly Purchased by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,120 shares of the company’s stock, valued at approximately $1,739,000.

Several other hedge funds have also recently modified their holdings of SNOW. Mather Group LLC. boosted its stake in shares of Snowflake by 98.0% in the 3rd quarter. Mather Group LLC. now owns 101 shares of the company’s stock worth $34,000 after buying an additional 50 shares during the last quarter. Ninety One UK Ltd purchased a new stake in shares of Snowflake during the third quarter valued at approximately $36,000. Fortitude Family Office LLC increased its position in shares of Snowflake by 146.7% during the third quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 66 shares during the last quarter. GK Wealth Management LLC purchased a new stake in shares of Snowflake during the third quarter valued at approximately $41,000. Finally, MV Capital Management Inc. bought a new stake in Snowflake during the fourth quarter worth $32,000. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Truist Financial set a $425.00 price objective on Snowflake and gave the stock a “buy” rating in a research report on Thursday, September 3rd. BTIG Research upped their price objective on Snowflake from $340.00 to $424.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Oppenheimer raised their target price on Snowflake from $400.00 to $475.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. Cantor Fitzgerald lifted their target price on Snowflake from $405.00 to $430.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Snowflake from $285.00 to $426.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Thirty-six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $413.87.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $341.57, for a total value of $5,123,550.00. Following the completion of the sale, the executive vice president directly owned 313,738 shares of the company’s stock, valued at $107,163,488.66. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Beaulier sold 755 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $336.36, for a total value of $253,951.80. Following the completion of the sale, the executive owned 211,619 shares in the company, valued at approximately $71,180,166.84. The trade was a 0.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 956,744 shares of company stock valued at $316,741,285. Company insiders own 4.80% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock traded up $8.53 during trading hours on Monday, hitting $315.37. 5,303,888 shares of the company were exchanged, compared to its average volume of 6,497,792. The firm has a fifty day simple moving average of $333.25 and a 200 day simple moving average of $255.61. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $384.56. The stock has a market capitalization of $111.26 billion, a price-to-earnings ratio of -99.17 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. Snowflake’s revenue was up 35.1% on a year-over-year basis. Research analysts predict that Snowflake Inc. will post -1.44 earnings per share for the current fiscal year.

Snowflake Company Profile

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.