Snowflake Inc. (NYSE:SNOW) Shares Purchased by RFG Holdings Inc.

RFG Holdings Inc. boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 19.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,686 shares of the company’s stock after buying an additional 610 shares during the period. RFG Holdings Inc.’s holdings in Snowflake were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in Snowflake in the 1st quarter worth approximately $258,957,000. Vanguard Group Inc. lifted its stake in shares of Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after buying an additional 1,559,830 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Snowflake in the 1st quarter valued at $171,608,000. AQR Capital Management LLC lifted its position in Snowflake by 210.0% during the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNOW has been the topic of a number of research reports. Evercore ISI cut their price objective on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Morgan Stanley reiterated an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Stifel Nicolaus decreased their target price on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Argus initiated coverage on shares of Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating for the company. Finally, Bank of America cut their price target on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.74.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Snowflake news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction dated 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 transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,049,994 over the last 90 days. 7.80% of the stock is owned by company insiders.

Snowflake Stock Performance

Shares of Snowflake stock opened at $124.04 on Friday. The stock has a 50 day moving average of $116.35 and a 200 day moving average of $134.69. The firm has a market capitalization of $41.58 billion, a price-to-earnings ratio of -40.54 and a beta of 0.83. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

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

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.