Snowflake Inc. $SNOW Shares Purchased by Blue Trust Inc.

Blue Trust Inc. increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 798.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,529 shares of the company’s stock after purchasing an additional 3,136 shares during the period. Blue Trust Inc.’s holdings in Snowflake were worth $790,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SNOW. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snowflake in the 2nd quarter worth $3,900,134,000. Nuveen LLC acquired a new stake in shares of Snowflake in the 1st quarter worth $555,847,000. AQR Capital Management LLC lifted its stake in shares of 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 acquiring an additional 2,460,769 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 acquiring an additional 763,673 shares during the period. Finally, Amundi lifted its stake in shares of 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 acquiring an additional 760,923 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $242.52 on Friday. The company has a market cap of $82.17 billion, a PE ratio of -58.44 and a beta of 1.21. Snowflake Inc. has a 12 month low of $113.23 and a 12 month high of $255.39. 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 50-day simple moving average of $218.64 and a 200-day simple moving average of $198.82.

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

Insider Buying and Selling at Snowflake

In other news, CAO Emily Ho sold 1,658 shares of Snowflake stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $225.25, for a total transaction of $373,464.50. Following the completion of the sale, the chief accounting officer directly owned 31,745 shares in the company, valued at $7,150,561.25. The trade was a 4.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 5,000 shares of Snowflake stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $250.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president owned 43,568 shares of the company’s stock, valued at approximately $10,892,000. This trade represents a 10.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,182,434 shares of company stock valued at $270,280,661. Corporate insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of several recent analyst reports. Macquarie raised their target price on shares of Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised their target price on shares of Snowflake from $225.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. The Goldman Sachs Group increased their price target on shares of Snowflake from $230.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Mizuho increased their price target on shares of Snowflake from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Finally, Wedbush increased their price target on shares of Snowflake from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.18.

Snowflake Company 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.