Vest Financial LLC Acquires New Stake in Snowflake Inc. $SNOW

Vest Financial LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 955 shares of the company’s stock, valued at approximately $214,000.

Other large investors have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new position in Snowflake during the second quarter valued at $25,000. Golden State Wealth Management LLC raised its stake in Snowflake by 748.0% during the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock valued at $31,000 after buying an additional 187 shares during the last quarter. Tradewinds Capital Management LLC raised its stake in Snowflake by 53.1% during the first quarter. Tradewinds Capital Management LLC now owns 245 shares of the company’s stock valued at $36,000 after buying an additional 85 shares during the last quarter. CX Institutional purchased a new position in Snowflake during the first quarter valued at $42,000. Finally, Alpine Bank Wealth Management purchased a new position in Snowflake during the first quarter valued at $43,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. CICC Research assumed coverage on Snowflake in a research note on Friday, June 20th. They set an “outperform” rating and a $225.00 price objective for the company. KeyCorp lifted their price objective on Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. JMP Securities restated a “market outperform” rating and issued a $260.00 price target on shares of Snowflake in a research note on Tuesday, August 26th. Oppenheimer boosted their price target on Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Finally, Wedbush boosted their price target on Snowflake from $230.00 to $250.00 and gave the stock an “outperform” 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 given a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $256.18.

Snowflake Stock Performance

Shares of SNOW opened at $240.88 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. Snowflake Inc. has a one year low of $113.23 and a one year high of $255.39. The firm has a market capitalization of $81.61 billion, a P/E ratio of -58.04 and a beta of 1.21. The business has a fifty day moving average of $220.73 and a 200 day moving average of $200.36.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (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 business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. Snowflake’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 5,000 shares of the business’s 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 completion of the sale, the executive vice president owned 43,568 shares of the company’s stock, valued at approximately $10,892,000. The trade was a 10.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction dated 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 sale, the senior vice president directly owned 241,854 shares of the company’s stock, valued at $53,986,649.88. This represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,182,434 shares of company stock valued at $270,280,661 in the last ninety days. 6.80% of the stock is currently owned by company insiders.

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.