954 Shares in Snowflake Inc. $SNOW Acquired by Axim Planning & Wealth

Axim Planning & Wealth bought a new position in Snowflake Inc. (NYSE:SNOW) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 954 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new position in Snowflake in the 2nd quarter worth approximately $3,900,134,000. Nuveen LLC purchased a new position in shares of Snowflake during the first quarter valued at approximately $555,847,000. AQR Capital Management LLC increased its stake in shares of Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after buying an additional 2,460,769 shares during the period. Jennison Associates LLC increased its stake in shares of Snowflake by 20.5% during the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock valued at $1,790,309,000 after buying an additional 1,363,389 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after buying an additional 763,673 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 4.2%

NYSE SNOW opened at $265.59 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a twelve month low of $113.65 and a twelve month high of $280.67. The firm has a market capitalization of $89.98 billion, a PE ratio of -64.00 and a beta of 1.23. The stock’s 50 day moving average is $238.30 and its 200 day moving average is $212.94.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company posted $0.18 earnings per share. The firm’s revenue was up 31.8% on a year-over-year basis. Research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 2,976 shares of the business’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $236.01, for a total value of $702,365.76. Following the sale, the director directly owned 34,436 shares of the company’s stock, valued at approximately $8,127,240.36. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 880,647 shares of company stock valued at $203,522,973. 6.80% of the stock is owned by insiders.

Analysts Set New Price Targets

SNOW has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Wells Fargo & Company initiated coverage on Snowflake in a research note on Tuesday, September 30th. They set an “overweight” rating and a $275.00 target price on the stock. Barclays boosted their target price on Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Scotiabank boosted their target price on Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Finally, Bank of America raised Snowflake from a “neutral” rating to a “buy” rating and boosted their target price for the company from $220.00 to $240.00 in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $258.95.

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.