NFSG Corp Has $6.29 Million Stock Holdings in Snowflake Inc. $SNOW

NFSG Corp raised its stake in Snowflake Inc. (NYSE:SNOW) by 34.5% in the first quarter, Holdings Channel reports. The firm owned 41,718 shares of the company’s stock after acquiring an additional 10,696 shares during the quarter. Snowflake comprises approximately 1.0% of NFSG Corp’s investment portfolio, making the stock its 23rd biggest position. NFSG Corp’s holdings in Snowflake were worth $6,292,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Snowflake by 24.0% in the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after buying an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Snowflake by 29.7% in the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after buying an additional 73 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in Snowflake during the second quarter worth $221,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Snowflake by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock worth $5,055,000 after buying an additional 1,521 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on SNOW. Oppenheimer upped their price target on shares of Snowflake from $250.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. HSBC set a $289.00 price objective on shares of Snowflake and gave the company a “buy” rating in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Snowflake from $230.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Rosenblatt Securities raised their target price on shares of Snowflake from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Royal Bank Of Canada lifted their price target on Snowflake from $220.00 to $284.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $293.53.

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser sold 840 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $257.91, for a total value of $216,644.40. Following the transaction, the director owned 26,876 shares in the company, valued at approximately $6,931,589.16. This represents a 3.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 99,900 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $251.73, for a total transaction of $25,147,827.00. Following the completion of the transaction, the director owned 28,535 shares in the company, valued at approximately $7,183,115.55. This trade represents a 77.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,802,015 shares of company stock worth $421,739,629 in the last ninety days. Insiders own 4.80% of the company’s stock.

Snowflake Trading Up 2.8%

Shares of Snowflake stock opened at $276.21 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day simple moving average of $220.12 and a two-hundred day simple moving average of $192.44. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The company has a market capitalization of $95.73 billion, a price-to-earnings ratio of -78.47 and a beta of 1.35.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company’s quarterly revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. Research analysts forecast that Snowflake Inc. will post -1.84 EPS for the current year.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.