Allworth Financial LP Acquires 17,995 Shares of Snowflake Inc. (NYSE:SNOW)

Allworth Financial LP raised its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2,650.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,674 shares of the company’s stock after buying an additional 17,995 shares during the period. Allworth Financial LP’s holdings in Snowflake were worth $2,145,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after acquiring an additional 297,428 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Snowflake by 3.7% in the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after buying an additional 249,249 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after buying an additional 223,936 shares during the period. Swedbank AB acquired a new position in Snowflake in the 1st quarter valued at $258,957,000. Finally, Bank of New York Mellon Corp raised its holdings in Snowflake by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after acquiring an additional 8,743 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNOW. Evercore ISI dropped their price objective on Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group cut their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Robert W. Baird lowered their price objective on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Scotiabank dropped their target price on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 22nd. Finally, Stifel Nicolaus reduced their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Snowflake Trading Up 1.0 %

Shares of NYSE SNOW opened at $116.04 on Monday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a 50-day moving average of $115.59 and a two-hundred day moving average of $131.68. The company has a market cap of $38.85 billion, a PE ratio of -41.44 and a beta of 0.83.

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

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 287 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at $86,252,760. The trade was a 0.00 % 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, insider Benoit Dageville sold 287 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares in the company, valued at $5,932,582.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,049,994 over the last three months. 7.80% of the stock is currently owned by company insiders.

About Snowflake

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.