300 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Fortitude Family Office LLC

Fortitude Family Office LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 300 shares of the company’s stock, valued at approximately $34,000.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Snowflake by 1.4% in the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after purchasing an additional 297,428 shares in the last quarter. Jennison Associates LLC increased its stake in Snowflake by 3.7% in the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after purchasing an additional 249,249 shares in the last quarter. Legal & General Group Plc increased its stake in Snowflake by 11.5% in the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after purchasing an additional 223,936 shares in the last quarter. Swedbank AB acquired a new position in shares of Snowflake in the first quarter valued at approximately $258,957,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Snowflake by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock valued at $216,142,000 after buying an additional 8,743 shares during the period. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNOW. Barclays reduced their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price target on shares of Snowflake in a report on Wednesday, October 2nd. Needham & Company LLC reduced their price target on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. DA Davidson reiterated a “buy” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, October 3rd. Finally, Canaccord Genuity Group reduced their price target on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.74.

Snowflake Price Performance

Shares of SNOW opened at $118.99 on Thursday. The firm has a market capitalization of $39.89 billion, a PE ratio of -38.89 and a beta of 0.83. The company’s 50-day moving average is $114.71 and its 200-day moving average is $131.02. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.52) earnings per share. Analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the transaction, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the transaction, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 6,251 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89. Following the transaction, the director now directly owns 208,735 shares in the company, valued at approximately $23,877,196.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,538 shares of company stock valued at $7,049,994. 7.80% of the stock is owned by company insiders.

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.