Sequoia Financial Advisors LLC Acquires 10,359 Shares of Snowflake Inc. $SNOW

Sequoia Financial Advisors LLC lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 59.0% during the second quarter, HoldingsChannel reports. The firm owned 27,905 shares of the company’s stock after purchasing an additional 10,359 shares during the period. Sequoia Financial Advisors LLC’s holdings in Snowflake were worth $6,244,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new stake in shares of Snowflake in the second quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Snowflake during the 1st quarter valued at $26,000. CVA Family Office LLC raised 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 during the last quarter. Golden State Wealth Management LLC raised 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 during the last quarter. Finally, Tradewinds Capital Management LLC raised its stake in Snowflake by 53.1% during the 1st quarter. Tradewinds Capital Management LLC now owns 245 shares of the company’s stock valued at $36,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the topic of a number of recent research reports. Citigroup reissued an “outperform” rating on shares of Snowflake in a research report on Thursday, August 28th. Scotiabank raised their price target on shares of Snowflake from $230.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Cantor Fitzgerald increased their target price on Snowflake from $242.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Stephens began coverage on Snowflake in a report on Friday, July 18th. They issued an “overweight” rating and a $261.00 target price for the company. Finally, Mizuho upped their price target on Snowflake from $235.00 to $260.00 and gave the company an “outperform” 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 given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $256.18.

Insiders Place Their Bets

In other news, SVP Vivek Raghunathan sold 11,801 shares of the firm’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 sale, the senior vice president owned 241,854 shares of the company’s stock, valued at $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total transaction 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. This trade represents a 1.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,182,434 shares of company stock valued at $270,280,661. Insiders own 6.80% of the company’s stock.

Snowflake Stock Up 2.1%

NYSE:SNOW opened at $247.29 on Tuesday. The company has a market cap of $83.78 billion, a price-to-earnings ratio of -59.59 and a beta of 1.21. Snowflake Inc. has a 52-week low of $113.23 and a 52-week high of $255.39. 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’s fifty day moving average price is $219.41 and its two-hundred day moving average price is $199.79.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, analysts anticipate 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.