Symphony Financial Ltd. Co. Makes New Investment in Snowflake Inc. $SNOW

Symphony Financial Ltd. Co. bought a new stake in Snowflake Inc. (NYSE:SNOW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 272,383 shares of the company’s stock, valued at approximately $60,949,000. Symphony Financial Ltd. Co. owned 0.08% of Snowflake as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC grew its position in Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares during the period. Sigma Planning Corp boosted its stake in shares of Snowflake by 32.9% during the 1st quarter. Sigma Planning Corp now owns 2,647 shares of the company’s stock worth $387,000 after acquiring an additional 655 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Snowflake by 10.6% during the 1st quarter. Wealthfront Advisers LLC now owns 9,993 shares of the company’s stock worth $1,461,000 after acquiring an additional 960 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Snowflake by 62.5% in the 1st quarter. Larson Financial Group LLC now owns 671 shares of the company’s stock worth $98,000 after acquiring an additional 258 shares during the period. Finally, Bailard Inc. purchased a new position in Snowflake in the 1st quarter valued at approximately $402,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Snowflake in a research note on Wednesday, October 8th. Barclays increased their price objective on shares of Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Truist Financial lifted their target price on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Scotiabank upped their price target on shares of Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.89.

Snowflake Price Performance

NYSE:SNOW opened at $257.40 on Monday. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The firm has a market cap of $87.21 billion, a price-to-earnings ratio of -62.02 and a beta of 1.23. The company’s 50-day moving average is $244.05 and its two-hundred day moving average is $219.26. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the business posted $0.18 earnings per share. The company’s revenue was up 31.8% on a year-over-year basis. Research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Transactions at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake 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 sale, the senior vice president owned 241,854 shares in the company, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $257.29, for a total transaction of $103,687.87. Following the completion of the sale, the director directly owned 24,927 shares in the company, valued at $6,413,467.83. This represents a 1.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 931,388 shares of company stock worth $216,578,628 over the last quarter. 6.80% of the stock is currently owned by insiders.

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.