OneDigital Investment Advisors LLC Boosts Stake in Snowflake Inc. (NYSE:SNOW)

OneDigital Investment Advisors LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 24.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,154 shares of the company’s stock after buying an additional 614 shares during the period. OneDigital Investment Advisors LLC’s holdings in Snowflake were worth $362,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. LRI Investments LLC boosted its holdings in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares during the period. Wellington Shields Capital Management LLC bought a new position in shares of Snowflake in the second quarter worth about $27,000. V Square Quantitative Management LLC purchased a new position in Snowflake in the 3rd quarter worth about $30,000. Fortitude Family Office LLC bought a new stake in Snowflake during the 3rd quarter valued at about $34,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Snowflake in the 2nd quarter valued at about $39,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 32.5 %

NYSE SNOW opened at $171.05 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The company has a fifty day simple moving average of $118.98 and a two-hundred day simple moving average of $128.19. The stock has a market cap of $57.34 billion, a P/E ratio of -55.90 and a beta of 0.83.

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

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 3,029 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $346,487.31. Following the completion of the transaction, the executive vice president now directly owns 753,464 shares in the company, valued at $86,188,746.96. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research reports. UBS Group reduced their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday. Scotiabank dropped their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $185.00 price target (up previously from $165.00) on shares of Snowflake in a research note on Thursday. Finally, Jefferies Financial Group upped their price objective on shares of Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $180.23.

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.