LGT Financial Advisors LLC Makes New Investment in Snowflake Inc. $SNOW

LGT Financial Advisors LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 159 shares of the company’s stock, valued at approximately $36,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of Snowflake during the 2nd quarter worth approximately $3,900,134,000. Nuveen LLC bought a new stake in shares of Snowflake during the first quarter worth approximately $555,847,000. AQR Capital Management LLC grew its holdings in Snowflake by 346.2% in the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after buying an additional 2,460,769 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after acquiring an additional 763,673 shares in the last quarter. Finally, Amundi grew its position in shares of Snowflake by 72.7% during the 1st quarter. Amundi now owns 1,808,250 shares of the company’s stock worth $252,974,000 after purchasing an additional 760,923 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares of the company’s stock, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total value of $2,335,000.00. Following the completion of the transaction, the executive vice president owned 527,336 shares of the company’s stock, valued at $123,132,956. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,182,434 shares of company stock worth $270,280,661 in the last 90 days. 6.80% of the stock is owned by company insiders.

Snowflake Stock Up 2.1%

Snowflake stock opened at $245.74 on Tuesday. The stock has a market cap of $83.26 billion, a PE ratio of -59.21 and a beta of 1.21. 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 firm’s 50-day simple moving average is $223.46 and its 200 day simple moving average is $203.20. Snowflake Inc. has a fifty-two week low of $113.23 and a fifty-two week high of $255.39.

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 business had revenue of $1.14 billion during 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 firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. Research analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent analyst reports. DA Davidson reaffirmed a “buy” rating and set a $250.00 price objective on shares of Snowflake in a research report on Monday, August 25th. Piper Sandler raised their price objective on Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Oppenheimer reissued an “outperform” rating and set a $295.00 target price on shares of Snowflake in a report on Friday. Canaccord Genuity Group upped their price target on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, Barclays increased their price objective on shares of Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Two investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $257.24.

Snowflake 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.