Stratos Wealth Partners LTD. Purchases 775 Shares of Snowflake Inc. $SNOW

Stratos Wealth Partners LTD. lifted its position in Snowflake Inc. (NYSE:SNOW) by 12.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,787 shares of the company’s stock after buying an additional 775 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Snowflake were worth $1,519,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SNOW. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake in the 2nd quarter worth approximately $3,900,134,000. Nuveen LLC acquired a new stake in Snowflake in the 1st quarter worth approximately $555,847,000. AQR Capital Management LLC lifted its holdings in Snowflake by 346.2% in the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after purchasing an additional 2,460,769 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after purchasing an additional 763,673 shares during the last quarter. Finally, Amundi lifted its holdings in Snowflake by 72.7% in the 1st quarter. Amundi now owns 1,808,250 shares of the company’s stock worth $252,974,000 after purchasing an additional 760,923 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SNOW shares. Stifel Nicolaus boosted their target price on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. BTIG Research boosted their target price on Snowflake from $235.00 to $276.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Morgan Stanley upped their price target on Snowflake from $262.00 to $272.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Wedbush upped their price target on Snowflake from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Royal Bank Of Canada upped their price target on Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $257.24.

Insider Transactions at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,658 shares of the company’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total value of $373,464.50. Following the sale, the chief accounting officer directly owned 31,745 shares in the company, valued at $7,150,561.25. This represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were 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. This trade represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,182,434 shares of company stock valued at $270,280,661. 6.80% of the stock is owned by insiders.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $245.74 on Tuesday. The business has a fifty day simple moving average of $223.46 and a 200 day simple moving average of $203.20. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $83.26 billion, a price-to-earnings ratio of -59.21 and a beta of 1.21. Snowflake Inc. has a one year low of $113.23 and a one year high of $255.39.

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

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.