Snowflake Inc. $SNOW Shares Bought by Fiera Capital Corp

Fiera Capital Corp boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 68.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,626 shares of the company’s stock after buying an additional 23,019 shares during the period. Fiera Capital Corp’s holdings in Snowflake were worth $12,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SNOW. Brighton Jones LLC raised its stake in Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Snowflake by 38.5% in the first quarter. Ballentine Partners LLC now owns 1,866 shares of the company’s stock valued at $273,000 after buying an additional 519 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Snowflake by 20.8% in the first quarter. Signaturefd LLC now owns 2,918 shares of the company’s stock worth $426,000 after buying an additional 502 shares in the last quarter. Sigma Planning Corp lifted its stake in shares of Snowflake by 32.9% in the first quarter. Sigma Planning Corp now owns 2,647 shares of the company’s stock worth $387,000 after buying an additional 655 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its position in Snowflake by 12.9% during the first quarter. Apollon Wealth Management LLC now owns 10,666 shares of the company’s stock worth $1,559,000 after acquiring an additional 1,219 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $257.15 on Friday. The firm has a 50-day simple moving average of $243.42 and a two-hundred day simple moving average of $217.75. The stock has a market cap of $87.12 billion, a PE ratio of -61.96 and a beta of 1.23. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business posted $0.18 EPS. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 710,083 shares of the firm’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 approximately $38,144,398.29. This trade represents a 81.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction that occurred on Tuesday, September 30th. The shares were 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 owned 241,854 shares of the company’s stock, valued at $53,986,649.88. This trade represents a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 931,388 shares of company stock valued at $216,578,628. Insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank Of Canada increased their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. JMP Securities increased their price target on Snowflake from $283.00 to $325.00 and gave the company a “market outperform” rating in a report on Tuesday, October 28th. DA Davidson reiterated a “buy” rating and set a $250.00 price objective on shares of Snowflake in a research report on Monday, August 25th. Cantor Fitzgerald upped their target price on Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Wells Fargo & Company assumed coverage on Snowflake in a report on Tuesday, September 30th. They set an “overweight” rating and a $275.00 price target on the stock. 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 issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $259.89.

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.