1,176 Shares in Snowflake Inc. $SNOW Acquired by Forza Wealth Management LLC

Forza Wealth Management LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,176 shares of the company’s stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also modified their holdings of SNOW. Brighton Jones LLC lifted its position 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 buying an additional 29,320 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Snowflake by 77.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 337 shares of the company’s stock valued at $49,000 after purchasing an additional 147 shares in the last quarter. Versant Capital Management Inc increased its holdings in Snowflake by 134.3% during the 1st quarter. Versant Capital Management Inc now owns 403 shares of the company’s stock valued at $59,000 after purchasing an additional 231 shares in the last quarter. GAMMA Investing LLC increased its holdings in Snowflake by 29,543.2% during the 1st quarter. GAMMA Investing LLC now owns 115,905 shares of the company’s stock valued at $16,941,000 after purchasing an additional 115,514 shares in the last quarter. Finally, NBC Securities Inc. increased its holdings in Snowflake by 124,333.3% during the 1st quarter. NBC Securities Inc. now owns 3,733 shares of the company’s stock valued at $545,000 after purchasing an additional 3,730 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 0.2%

NYSE SNOW opened at $225.60 on Wednesday. The stock has a fifty day moving average of $214.75 and a 200-day moving average of $194.23. The stock has a market capitalization of $76.43 billion, a P/E ratio of -54.36 and a beta of 1.22. Snowflake Inc. has a 52 week low of $108.71 and a 52 week high of $249.99. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 2,611 shares of Snowflake stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $230.48, for a total transaction of $601,783.28. Following the completion of the sale, the executive vice president directly owned 542,450 shares of the company’s stock, valued at $125,023,876. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, September 5th. The stock was sold at an average price of $224.84, for a total value of $90,610.52. Following the sale, the director directly owned 25,733 shares of the company’s stock, valued at approximately $5,785,807.72. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,759,924 shares of company stock valued at $397,943,442 in the last three months. 6.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SNOW shares. Raymond James Financial raised their price target on Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Evercore ISI raised their price target on Snowflake from $240.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Barclays raised their price target on Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Jefferies Financial Group raised their price target on Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Finally, Monness Crespi & Hardt raised their price target on Snowflake from $245.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.53.

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.