Abound Wealth Management Has $100,000 Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Abound Wealth Management grew its stake in Snowflake Inc. (NYSE:SNOW) by 2,136.4% during the second quarter, HoldingsChannel.com reports. The firm owned 738 shares of the company’s stock after buying an additional 705 shares during the period. Abound Wealth Management’s holdings in Snowflake were worth $100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in Snowflake by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock valued at $39,697,000 after buying an additional 10,575 shares during the period. Principal Financial Group Inc. raised its position in shares of Snowflake by 17.5% in the 4th quarter. Principal Financial Group Inc. now owns 97,788 shares of the company’s stock valued at $19,460,000 after acquiring an additional 14,542 shares during the period. Avantax Advisory Services Inc. boosted its stake in Snowflake by 26.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,722 shares of the company’s stock worth $940,000 after acquiring an additional 986 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Snowflake by 26.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 33,529 shares of the company’s stock valued at $6,672,000 after purchasing an additional 7,033 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in Snowflake by 67.5% in the fourth quarter. Quadrant Capital Group LLC now owns 355 shares of the company’s stock worth $71,000 after purchasing an additional 143 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

Shares of SNOW stock opened at $113.67 on Monday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a market capitalization of $38.10 billion, a price-to-earnings ratio of -40.60 and a beta of 0.83. The company has a 50-day simple moving average of $123.48 and a 200 day simple moving average of $141.48.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data 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. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter in the previous year, the company posted ($0.52) earnings per share. The business’s revenue was up 28.9% on a year-over-year basis. Sell-side analysts forecast that Snowflake Inc. will post -2.42 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, CAO Emily Ho sold 3,845 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the transaction, the chief accounting officer now directly owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The disclosure for this sale can be found here. Insiders have sold a total of 512,262 shares of company stock valued at $63,340,261 in the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNOW. HSBC upgraded shares of Snowflake from a “reduce” rating to a “hold” rating and upped their price objective for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. Evercore ISI decreased their price objective on Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company dropped their target price on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Stifel Nicolaus reduced their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. Finally, Rosenblatt Securities restated a “buy” rating and set a $195.00 price objective on shares of Snowflake in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.