Snowflake Inc. (NYSE:SNOW) Shares Bought by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 11.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,973 shares of the company’s stock after purchasing an additional 422 shares during the period. Ameritas Advisory Services LLC’s holdings in Snowflake were worth $537,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Accent Capital Management LLC purchased a new stake in Snowflake in the fourth quarter valued at about $25,000. LRI Investments LLC purchased a new position in shares of Snowflake in the 1st quarter valued at approximately $29,000. FinTrust Capital Advisors LLC boosted its stake in Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after purchasing an additional 128 shares in the last quarter. Riverview Trust Co purchased a new stake in Snowflake during the 1st quarter worth approximately $31,000. Finally, Hartford Financial Management Inc. acquired a new position in Snowflake during the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 1.0 %

Shares of NYSE SNOW traded down $1.15 during midday trading on Friday, hitting $112.99. The company’s stock had a trading volume of 2,092,216 shares, compared to its average volume of 6,685,889. The business’s fifty day simple moving average is $128.67 and its two-hundred day simple moving average is $151.64. Snowflake Inc. has a 1 year low of $107.93 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 18.86%. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter last year, the company posted ($0.52) EPS. The firm’s revenue was up 28.9% compared to the same quarter last year. Equities research analysts anticipate that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Teresa Briggs sold 848 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the sale, the director now owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Teresa Briggs sold 848 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares in the company, valued at approximately $607,236.06. The disclosure for this sale can be found here. Insiders sold 527,678 shares of company stock valued at $65,491,235 in the last three months. 7.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNOW. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $119.00 to $121.00 in a report on Friday, August 23rd. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. TD Cowen decreased their target price on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. Oppenheimer reiterated an “outperform” rating and issued a $220.00 price target on shares of Snowflake in a report on Thursday, May 23rd. Finally, Barclays reduced their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $176.03.

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.