Good Life Advisors LLC Buys New Shares in Snowflake Inc. $SNOW

Good Life Advisors LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,748 shares of the company’s stock, valued at approximately $391,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNOW. Capital Advantage Inc. lifted its position in shares of Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after purchasing an additional 48 shares in the last quarter. Wedbush Securities Inc. increased its stake in Snowflake by 1.3% during the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after buying an additional 48 shares during the period. Avion Wealth lifted its holdings in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares in the last quarter. Advyzon Investment Management LLC boosted its position in Snowflake by 3.8% in the 2nd quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock valued at $340,000 after buying an additional 55 shares during the last quarter. Finally, Ignite Planners LLC grew its stake in shares of Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock valued at $418,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company initiated coverage on Snowflake in a report on Tuesday, September 30th. They issued an “overweight” rating and a $275.00 price target for the company. Scotiabank increased 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. BTIG Research raised their price target on shares of Snowflake from $276.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley increased their price objective on shares of Snowflake from $262.00 to $272.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Finally, Oppenheimer reissued an “outperform” rating and set a $295.00 price objective on shares of Snowflake in a report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $259.89.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the transaction, the executive vice president owned 527,336 shares of the company’s stock, valued at $123,132,956. The trade was a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the sale, the director directly owned 165,507 shares of the company’s stock, valued at $38,144,398.29. This trade represents a 81.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 931,388 shares of company stock valued at $216,578,628. 6.80% of the stock is currently owned by company insiders.

Snowflake Stock Up 0.2%

SNOW stock opened at $257.40 on Friday. The firm’s 50-day moving average is $244.05 and its two-hundred day moving average is $218.43. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $87.21 billion, a price-to-earnings ratio of -62.02 and a beta of 1.23. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data 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 business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s revenue was up 31.8% on a year-over-year basis. On average, analysts forecast that Snowflake Inc. will post -2.36 earnings per share 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.