Fortis Capital Advisors LLC Takes $967,000 Position in Snowflake Inc. $SNOW

Fortis Capital Advisors LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,320 shares of the company’s stock, valued at approximately $967,000.

Other hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Snowflake in the 1st quarter valued at $26,000. CVA Family Office LLC increased its stake in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Snowflake by 748.0% during the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock valued at $31,000 after purchasing an additional 187 shares in the last quarter. HighMark Wealth Management LLC increased its stake in Snowflake by 200.0% during the 2nd quarter. HighMark Wealth Management LLC now owns 225 shares of the company’s stock valued at $50,000 after purchasing an additional 150 shares in the last quarter. Finally, Raleigh Capital Management Inc. bought a new stake in Snowflake during the 2nd quarter valued at $53,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW opened at $235.42 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $79.76 billion, a price-to-earnings ratio of -56.73 and a beta of 1.21. The firm’s fifty day moving average price is $215.94 and its two-hundred day moving average price is $195.62. Snowflake Inc. has a 1 year low of $111.15 and a 1 year high of $249.99.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data 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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 31.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. As a group, analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Snowflake in a research note on Saturday, September 27th. KeyCorp boosted their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. JMP Securities restated a “market outperform” rating and set a $260.00 price target on shares of Snowflake in a research note on Tuesday, August 26th. Royal Bank Of Canada boosted their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Finally, Oppenheimer boosted their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Two 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, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.53.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total value of $2,335,000.00. Following the transaction, the executive vice president directly owned 527,336 shares of the company’s stock, valued at approximately $123,132,956. The trade was a 1.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,601,630 shares of company stock valued at $362,990,571 over the last quarter. Corporate insiders own 6.80% of the company’s stock.

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.