Snowflake Inc. (NYSE:SNOW) Position Boosted by Abound Wealth Management

Abound Wealth Management lifted its stake in Snowflake Inc. (NYSE:SNOW) by 2,136.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 738 shares of the company’s stock after purchasing an additional 705 shares during the quarter. Abound Wealth Management’s holdings in Snowflake were worth $100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Snowflake by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock valued at $39,697,000 after buying an additional 10,575 shares during the period. Principal Financial Group Inc. lifted its stake in Snowflake by 17.5% in the fourth quarter. Principal Financial Group Inc. now owns 97,788 shares of the company’s stock valued at $19,460,000 after acquiring an additional 14,542 shares during the last quarter. Avantax Advisory Services Inc. grew its position in Snowflake by 26.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,722 shares of the company’s stock worth $940,000 after acquiring an additional 986 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Snowflake by 26.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 33,529 shares of the company’s stock worth $6,672,000 after purchasing an additional 7,033 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Snowflake by 67.5% during the 4th quarter. Quadrant Capital Group LLC now owns 355 shares of the company’s stock valued at $71,000 after purchasing an additional 143 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNOW has been the topic of several analyst reports. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Scotiabank cut their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 22nd. Canaccord Genuity Group decreased their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. TD Cowen dropped their price target 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. Finally, DA Davidson decreased their price objective on shares of Snowflake from $230.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $176.03.

Insiders Place Their Bets

In related news, insider Benoit Dageville sold 1,295 shares of Snowflake stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $125.19, for a total value 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the sale, the director now directly owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benoit Dageville sold 1,295 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $125.19, for a total value of $162,121.05. Following the sale, the insider now owns 58,791 shares of the company’s stock, valued at approximately $7,360,045.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 512,262 shares of company stock valued at $63,340,261. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Up 0.6 %

NYSE:SNOW opened at $113.67 on Monday. The firm has a market cap of $38.10 billion, a PE ratio of -40.60 and a beta of 0.83. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company’s 50-day moving average price is $123.48 and its two-hundred day moving average price is $141.48.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The business 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%. Snowflake’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.52) EPS. On average, research analysts expect 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.