Snowflake Inc. $SNOW Shares Purchased by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 236,960 shares of the company’s stock after purchasing an additional 1,960 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.07% of Snowflake worth $80,462,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNOW. Hansen & Associates Financial Group Inc. bought a new stake in Snowflake in the 3rd quarter valued at $211,000. Dogwood Wealth Management LLC boosted its holdings in shares of Snowflake by 104.9% during the 3rd quarter. Dogwood Wealth Management LLC now owns 125 shares of the company’s stock valued at $42,000 after purchasing an additional 64 shares during the last quarter. Clearwater Capital Advisors LLC boosted its holdings in shares of Snowflake by 4.6% during the 3rd quarter. Clearwater Capital Advisors LLC now owns 865 shares of the company’s stock valued at $294,000 after purchasing an additional 38 shares during the last quarter. Shah Wealth Advisors LLC purchased a new position in shares of Snowflake during the third quarter valued at about $238,000. Finally, Diversified Trust Co grew its position in shares of Snowflake by 2.7% during the third quarter. Diversified Trust Co now owns 20,340 shares of the company’s stock valued at $6,907,000 after purchasing an additional 534 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their target price on Snowflake from $285.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, September 1st. Benchmark increased their price target on Snowflake from $290.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. BTIG Research raised their price target on Snowflake from $340.00 to $424.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Citizens Jmp raised their price target on Snowflake from $408.00 to $488.00 and gave the company a “market outperform” rating in a report on Thursday, September 3rd. Finally, Barclays lifted their price objective on Snowflake from $332.00 to $384.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 3rd. Thirty-six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $413.87.

Snowflake Price Performance

Shares of Snowflake stock traded down $8.09 during trading hours on Friday, reaching $290.61. The company’s stock had a trading volume of 2,931,762 shares, compared to its average volume of 4,594,023. The firm has a 50 day moving average price of $324.69 and a 200-day moving average price of $243.79. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $102.53 billion, a P/E ratio of -91.39 and a beta of 1.32. Snowflake Inc. has a one year low of $118.30 and a one year high of $384.56.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS. On average, analysts predict that Snowflake Inc. will post -1.42 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, Director Michael Speiser sold 840 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $275.92, for a total transaction of $231,772.80. Following the sale, the director directly owned 23,516 shares in the company, valued at $6,488,534.72. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $306.01, for a total value of $3,060,100.00. Following the completion of the sale, the executive vice president directly owned 303,738 shares of the company’s stock, valued at $92,946,865.38. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,186,443 shares of company stock valued at $387,734,752. 4.80% of the stock is currently owned by company insiders.

Snowflake Company Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.