Snowflake Inc. (NYSE:SNOW) Shares Bought by Weil Company Inc.

Weil Company Inc. increased its holdings in Snowflake Inc. (NYSE:SNOW) by 53.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,298 shares of the company’s stock after acquiring an additional 803 shares during the quarter. Weil Company Inc.’s holdings in Snowflake were worth $310,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SNOW. Accent Capital Management LLC purchased a new position in shares of Snowflake during the 4th quarter valued at approximately $25,000. LRI Investments LLC raised its holdings in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in Snowflake during the 2nd quarter valued at $27,000. Riverview Trust Co acquired a new position in Snowflake during the 1st quarter worth $31,000. Finally, Hartford Financial Management Inc. bought a new stake in shares of Snowflake in the 1st quarter worth about $32,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Down 2.9 %

Shares of Snowflake stock opened at $108.56 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The stock has a 50-day moving average price of $126.57 and a 200 day moving average price of $146.64. The company has a market cap of $36.35 billion, a P/E ratio of -38.77 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.52) earnings per share. On average, equities analysts forecast that Snowflake Inc. will post -2.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on SNOW shares. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Robert W. Baird dropped their price target on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Scotiabank decreased their price objective on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. Finally, Needham & Company LLC dropped their target price on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $176.03.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 546 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $129.32, for a total value of $70,608.72. Following the transaction, the executive vice president now owns 756,489 shares in the company, valued at $97,829,157.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the sale, the insider now directly owns 63,222 shares in the company, valued at $8,112,014.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 546 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total value of $70,608.72. Following the transaction, the executive vice president now owns 756,489 shares in the company, valued at $97,829,157.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 512,678 shares of company stock worth $63,434,135. Corporate insiders own 7.80% of the company’s stock.

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.