Capital Investment Advisors LLC Buys 301 Shares of Snowflake Inc. (NYSE:SNOW)

Capital Investment Advisors LLC grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 22.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,661 shares of the company’s stock after buying an additional 301 shares during the quarter. Capital Investment Advisors LLC’s holdings in Snowflake were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Accent Capital Management LLC bought a new stake in Snowflake during the fourth quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in shares of Snowflake during the 1st quarter worth $29,000. Riverview Trust Co bought a new stake in shares of Snowflake during the 1st quarter valued at $31,000. Hartford Financial Management Inc. purchased a new stake in shares of Snowflake in the 1st quarter worth $32,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Snowflake in the 1st quarter worth $32,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on SNOW shares. Wedbush reissued a “neutral” rating and set a $210.00 price target on shares of Snowflake in a report on Wednesday, June 5th. Bank of America reissued a “neutral” rating and issued a $200.00 target price on shares of Snowflake in a report on Wednesday, June 12th. StockNews.com cut shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. JMP Securities reiterated a “market outperform” rating and issued a $235.00 price target on shares of Snowflake in a research report on Tuesday, June 4th. Finally, Scotiabank decreased their price objective on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $197.31.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at $86,252,760. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now owns 718,773 shares of the company’s stock, valued at $86,252,760. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the sale, the director now directly owns 4,247 shares in the company, valued at $607,236.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 535,678 shares of company stock worth $66,762,300. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW traded up $2.81 during mid-day trading on Friday, hitting $124.41. 3,685,865 shares of the company’s stock traded hands, compared to its average volume of 6,422,034. The company’s 50-day moving average is $130.70 and its two-hundred day moving average is $160.18. Snowflake Inc. has a 1 year low of $107.93 and a 1 year high of $237.72. The company has a market capitalization of $41.65 billion, a P/E ratio of -44.43 and a beta of 0.85.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Equities analysts anticipate that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

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.