Joule Financial LLC Purchases 2,990 Shares of Snowflake Inc. $SNOW

Joule Financial LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 61.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,860 shares of the company’s stock after buying an additional 2,990 shares during the period. Snowflake accounts for approximately 0.5% of Joule Financial LLC’s holdings, making the stock its 24th biggest position. Joule Financial LLC’s holdings in Snowflake were worth $1,773,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Trust Co. of Toledo NA OH bought a new position in Snowflake in the 2nd quarter worth approximately $25,000. Grey Fox Wealth Advisors LLC acquired a new stake in Snowflake in the 3rd quarter worth $25,000. Avion Wealth increased its holdings in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the period. Tripletail Wealth Management LLC acquired a new position in shares of Snowflake during the third quarter valued at about $28,000. Finally, Rossby Financial LCC lifted its stake in shares of Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 127 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on SNOW shares. Weiss Ratings restated a “sell (d-)” rating on shares of Snowflake in a research note on Wednesday, January 21st. Macquarie boosted their price objective on Snowflake from $235.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $285.00 price target on shares of Snowflake in a research note on Thursday, December 4th. Stifel Nicolaus upped their target price on shares of Snowflake from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Snowflake in a research note on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $275.58.

Insider Activity at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the sale, the senior vice president owned 218,020 shares of the company’s stock, valued at $48,060,328.80. This represents a 5.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the completion of the transaction, the executive vice president directly owned 512,450 shares of the company’s stock, valued at approximately $127,871,648.50. This represents a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 618,681 shares of company stock worth $137,427,145 in the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

NYSE SNOW opened at $216.14 on Thursday. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The company has a 50 day moving average of $225.08 and a 200-day moving average of $228.25. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The firm has a market cap of $73.96 billion, a price-to-earnings ratio of -53.50 and a beta of 1.14.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company earned $0.20 EPS. Snowflake’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.