Snowflake Inc. $SNOW Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 12.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,404 shares of the company’s stock after acquiring an additional 3,499 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Snowflake were worth $7,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Trust Co. of Toledo NA OH purchased a new stake in shares of Snowflake during the second quarter worth approximately $25,000. Avion Wealth grew its position in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after buying an additional 49 shares during the last quarter. Tripletail Wealth Management LLC acquired a new position in Snowflake in the 3rd quarter valued at $28,000. Rossby Financial LCC raised its position in Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after buying an additional 127 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its position in Snowflake by 4,333.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock worth $30,000 after buying an additional 130 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNOW has been the topic of several analyst reports. JMP Securities lifted their target price on shares of Snowflake from $283.00 to $325.00 and gave the company a “market outperform” rating in a report on Tuesday, October 28th. Cowen reaffirmed a “buy” rating on shares of Snowflake in a report on Thursday, December 4th. Jefferies Financial Group set a $300.00 target price on Snowflake in a research note on Monday, November 24th. Morgan Stanley raised their price target on Snowflake from $272.00 to $299.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $237.00 price objective on shares of Snowflake in a report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.58.

Snowflake Stock Performance

SNOW opened at $210.66 on Tuesday. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The stock has a market cap of $72.09 billion, a P/E ratio of -52.14 and a beta of 1.14. The stock’s 50 day simple moving average is $231.92 and its 200 day simple moving average is $228.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.Snowflake’s revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $219.90, for a total transaction of $2,199,000.00. Following the completion of the transaction, the executive vice president owned 471,351 shares in the company, valued at approximately $103,650,084.90. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $221.16, for a total transaction of $89,127.48. Following the completion of the sale, the director owned 24,121 shares in the company, valued at $5,334,600.36. This represents a 1.64% 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 418,681 shares of company stock worth $96,073,145. 6.80% of the stock is owned by company insiders.

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.