4,646 Shares in Snowflake Inc. $SNOW Purchased by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, HoldingsChannel reports. The fund acquired 4,646 shares of the company’s stock, valued at approximately $1,040,000.

Several other large investors have also added to or reduced their stakes in SNOW. Brighton Jones LLC boosted its stake in Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the period. GAMMA Investing LLC lifted its position in Snowflake by 29,543.2% in the 1st quarter. GAMMA Investing LLC now owns 115,905 shares of the company’s stock worth $16,941,000 after buying an additional 115,514 shares during the last quarter. Merit Financial Group LLC lifted its position in Snowflake by 464.7% in the 1st quarter. Merit Financial Group LLC now owns 18,019 shares of the company’s stock worth $2,634,000 after buying an additional 14,828 shares during the last quarter. Fulton Bank N.A. increased its stake in Snowflake by 40.3% in the 1st quarter. Fulton Bank N.A. now owns 1,964 shares of the company’s stock worth $287,000 after purchasing an additional 564 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Snowflake by 82.6% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 694 shares of the company’s stock worth $101,000 after purchasing an additional 314 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Emily Ho sold 1,658 shares of the company’s stock in a transaction dated 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 owned 31,745 shares of the company’s stock, valued at $7,150,561.25. This represents a 4.96% decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. This trade represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,601,630 shares of company stock valued at $362,990,571. 6.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SNOW. Scotiabank lifted their price target on Snowflake from $230.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Rosenblatt Securities lifted their price target on Snowflake from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. BTIG Research lifted their price target on Snowflake from $235.00 to $276.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. boosted their target price on Snowflake from $225.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Finally, Cantor Fitzgerald upped their price target on Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $255.53.

Snowflake Stock Down 2.1%

Snowflake stock opened at $235.42 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a fifty day moving average of $215.94 and a 200 day moving average of $195.62. The stock has a market cap of $79.76 billion, a PE ratio of -56.73 and a beta of 1.21. Snowflake Inc. has a one year low of $111.15 and a one year high of $249.99.

Snowflake (NYSE:SNOW) last issued its quarterly 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. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. As a group, sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current 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.