Valeo Financial Advisors LLC Increases Position in Snowflake Inc. $SNOW

Valeo Financial Advisors LLC raised its position in shares of Snowflake Inc. (NYSE:SNOW) by 923.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,838 shares of the company’s stock after buying an additional 107,232 shares during the period. Valeo Financial Advisors LLC’s holdings in Snowflake were worth $26,592,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in Snowflake during the 1st quarter valued at about $26,000. CVA Family Office LLC lifted its position in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Snowflake by 748.0% in the first 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 period. HighMark Wealth Management LLC boosted its stake in shares of Snowflake by 200.0% in the second quarter. HighMark Wealth Management LLC now owns 225 shares of the company’s stock valued at $50,000 after purchasing an additional 150 shares during the period. Finally, Raleigh Capital Management Inc. acquired a new position in shares of Snowflake in the second quarter valued at approximately $53,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Friday, August 1st. The shares were sold at an average price of $216.00, for a total value of $2,160,000.00. Following the transaction, the executive vice president directly owned 537,336 shares of the company’s stock, valued at $116,064,576. The trade was a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 710,083 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,227,176 shares of company stock worth $279,503,457. 6.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SNOW has been the topic of a number of research reports. DA Davidson reissued a “buy” rating and issued a $250.00 price target on shares of Snowflake in a research report on Monday, August 25th. Cowen reiterated a “buy” rating on shares of Snowflake in a report on Thursday, August 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Snowflake in a research note on Saturday, September 27th. Raymond James Financial increased their price target on Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Finally, UBS Group lifted their price objective on Snowflake from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $255.53.

Snowflake Trading Down 2.1%

NYSE SNOW opened at $235.42 on Monday. The firm’s fifty day moving average price is $215.94 and its 200 day moving average price is $196.17. Snowflake Inc. has a 12 month low of $111.15 and a 12 month high of $249.99. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $79.76 billion, a price-to-earnings ratio of -56.73 and a beta of 1.21.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company posted $0.18 earnings per share. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.