Snowflake Inc. $SNOW Shares Acquired by Legacy Trust

Legacy Trust increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 15.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,934 shares of the company’s stock after buying an additional 1,765 shares during the period. Legacy Trust’s holdings in Snowflake were worth $4,392,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNOW. Basecamp Wealth Advisors LLC lifted its holdings in Snowflake by 140.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock worth $30,000 after buying an additional 118 shares in the last quarter. Reyes Financial Architecture Inc. purchased a new position in Snowflake in the 3rd quarter valued at about $32,000. Mather Group LLC. grew its stake in shares of Snowflake by 98.0% during the third quarter. Mather Group LLC. now owns 101 shares of the company’s stock valued at $34,000 after acquiring an additional 50 shares in the last quarter. Ninety One UK Ltd acquired a new stake in shares of Snowflake during the third quarter valued at about $36,000. Finally, Fortitude Family Office LLC grew its stake in shares of Snowflake by 146.7% during the third quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $299.01 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $105.49 billion, a price-to-earnings ratio of -94.03 and a beta of 1.32. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $384.56. The business has a 50 day simple moving average of $326.01 and a 200-day simple moving average of $243.40.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period last year, the business posted $0.35 earnings per share. As a group, equities research analysts expect that Snowflake Inc. will post -1.42 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael Speiser sold 840 shares of the stock in a transaction on Friday, November 6th. The shares were sold at an average price of $275.92, for a total transaction of $231,772.80. Following the sale, the director directly owned 23,516 shares of the company’s stock, valued at approximately $6,488,534.72. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 300,000 shares of the firm’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $316.43, for a total transaction of $94,929,000.00. Following the completion of the transaction, the director owned 19,024 shares in the company, valued at approximately $6,019,764.32. The trade was a 94.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,186,443 shares of company stock valued at $387,734,752 over the last three months. 4.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNOW. KeyCorp lifted their target price on Snowflake from $285.00 to $325.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Snowflake in a report on Tuesday, September 8th. Needham & Company LLC restated a “buy” rating and set a $450.00 price objective on shares of Snowflake in a research note on Monday, October 12th. Stifel Nicolaus lifted their price objective on Snowflake from $350.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Finally, Barclays lifted their price objective on Snowflake from $332.00 to $384.00 and gave the stock an “equal weight” rating in a report on Thursday, September 3rd. Thirty-six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.87.

Snowflake Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.