Allen Capital Group LLC Buys 2,802 Shares of Snowflake Inc. (NYSE:SNOW)

Allen Capital Group LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 20.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,292 shares of the company’s stock after acquiring an additional 2,802 shares during the quarter. Allen Capital Group LLC’s holdings in Snowflake were worth $1,871,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SNOW. Charles Schwab Investment Management Inc. boosted its position in shares of Snowflake by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock valued at $143,289,000 after buying an additional 36,704 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Snowflake during the 3rd quarter valued at about $11,252,000. John G Ullman & Associates Inc. lifted its position in shares of Snowflake by 91.1% during the 3rd quarter. John G Ullman & Associates Inc. now owns 33,350 shares of the company’s stock valued at $3,831,000 after buying an additional 15,900 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Snowflake during the 3rd quarter valued at about $293,000. Finally, Citizens Financial Group Inc. RI lifted its position in shares of Snowflake by 13.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 94,597 shares of the company’s stock valued at $10,865,000 after buying an additional 11,165 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 6,251 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $715,051.89. Following the sale, the director now owns 208,735 shares in the company, valued at $23,877,196.65. This represents a 2.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares in the company, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 59,538 shares of company stock valued at $7,061,544. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Snowflake stock opened at $171.05 on Friday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a market capitalization of $57.34 billion, a P/E ratio of -55.90 and a beta of 0.83. The stock has a 50-day simple moving average of $118.98 and a 200-day simple moving average of $128.19.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.52) EPS. As a group, analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research analyst reports. Mizuho boosted their price target on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen upped their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Truist Financial restated a “buy” rating and set a $210.00 price target on shares of Snowflake in a report on Thursday. Finally, Stifel Nicolaus decreased their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.23.

About Snowflake

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.