Snowflake Inc. (NYSE:SNOW) Shares Bought by LGT Group Foundation

LGT Group Foundation increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 187.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 48,506 shares of the company’s stock after acquiring an additional 31,627 shares during the period. LGT Group Foundation’s holdings in Snowflake were worth $6,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Accent Capital Management LLC acquired a new position in shares of Snowflake during the fourth quarter valued at $25,000. LRI Investments LLC lifted its position in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the period. Wellington Shields Capital Management LLC bought a new position in Snowflake during the 2nd quarter valued at $27,000. Riverview Trust Co acquired a new stake in shares of Snowflake in the first quarter valued at $31,000. Finally, Hartford Financial Management Inc. bought a new position in Snowflake during the first quarter valued at about $32,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNOW. Oppenheimer restated an “outperform” rating and issued a $220.00 target price on shares of Snowflake in a report on Thursday, May 23rd. Sanford C. Bernstein increased their price objective on Snowflake from $171.00 to $185.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Stifel Nicolaus lowered their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Morgan Stanley restated an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Finally, TD Cowen lowered their price objective on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $176.03.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the sale, the chief accounting officer now directly owns 30,613 shares in the company, valued at approximately $3,991,629.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Benoit Dageville sold 1,295 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $125.19, for a total transaction of $162,121.05. Following the completion of the transaction, the insider now directly owns 58,791 shares of the company’s stock, valued at $7,360,045.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Emily Ho sold 3,845 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the transaction, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The disclosure for this sale can be found here. In the last three months, insiders sold 510,098 shares of company stock worth $63,102,307. 7.80% of the stock is owned by company insiders.

Snowflake Stock Up 1.3 %

Shares of NYSE SNOW opened at $109.95 on Tuesday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The stock has a market cap of $36.81 billion, a price-to-earnings ratio of -39.27 and a beta of 0.84. The company’s fifty day moving average is $125.92 and its 200-day moving average is $144.82.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping 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 analyst estimates of $851.72 million. During the same period in the previous year, the company posted ($0.52) earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, research analysts anticipate that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

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.