Fiduciary Planning LLC Invests $358,000 in Snowflake Inc. $SNOW

Fiduciary Planning LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) in the second quarter, Holdings Channel reports. The institutional investor acquired 1,599 shares of the company’s stock, valued at approximately $358,000.

Other large investors also recently bought and sold shares of the company. Stephens Inc. AR boosted its stake in Snowflake by 105.9% during the second quarter. Stephens Inc. AR now owns 5,993 shares of the company’s stock worth $1,341,000 after buying an additional 3,082 shares during the period. Beverly Hills Private Wealth LLC raised its stake in shares of Snowflake by 13.8% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 2,873 shares of the company’s stock valued at $643,000 after acquiring an additional 348 shares during the period. Calamos Wealth Management LLC lifted its holdings in shares of Snowflake by 2.7% in the 2nd quarter. Calamos Wealth Management LLC now owns 58,068 shares of the company’s stock worth $12,994,000 after acquiring an additional 1,508 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Snowflake by 68.9% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 6,261 shares of the company’s stock worth $1,331,000 after purchasing an additional 2,554 shares during the period. Finally, Aspiriant LLC purchased a new position in shares of Snowflake during the 2nd quarter worth approximately $201,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $240.68 on Monday. The business has a 50-day simple moving average of $222.38 and a 200-day simple moving average of $202.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. Snowflake Inc. has a one year low of $113.23 and a one year high of $255.39. The company has a market cap of $81.54 billion, a PE ratio of -58.00 and a beta of 1.21.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. On average, equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Cantor Fitzgerald boosted their target price on Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Macquarie boosted their price objective on Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Thursday, August 28th. Piper Sandler raised their target price on Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $260.00 target price on shares of Snowflake in a research report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.71.

Insider Buying and Selling at Snowflake

In other news, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president directly owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 7,551 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total value of $1,670,583.24. Following the completion of the transaction, the director owned 153,226 shares in the company, valued at approximately $33,899,720.24. The trade was a 4.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,182,434 shares of company stock worth $270,280,661. 6.80% of the stock is currently owned by company insiders.

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.