Snowflake Inc. $SNOW Holdings Raised by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC boosted its stake in Snowflake Inc. (NYSE:SNOW) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,886 shares of the company’s stock after buying an additional 372 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Snowflake were worth $2,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new stake in Snowflake in the 2nd quarter worth approximately $25,000. Avion Wealth lifted its position in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares in the last quarter. Whittier Trust Co. lifted its position in Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after buying an additional 82 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in Snowflake in the 2nd quarter worth approximately $36,000. Finally, Golden State Wealth Management LLC lifted its position in Snowflake by 748.0% in the 1st quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock worth $31,000 after buying an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SNOW shares. UBS Group increased their target price on shares of Snowflake from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Bank of America upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and increased their price target for the stock from $220.00 to $240.00 in a research note on Wednesday, August 20th. Truist Financial increased their price target on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Stephens assumed coverage on shares of Snowflake in a research note on Friday, July 18th. They set an “overweight” rating and a $261.00 price target on the stock. Finally, KeyCorp increased their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $257.24.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total value of $2,335,000.00. Following the transaction, the executive vice president directly owned 527,336 shares in the company, valued at $123,132,956. The trade was a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 710,083 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at approximately $38,144,398.29. This trade represents a 81.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,182,434 shares of company stock valued at $270,280,661 in the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Shares of Snowflake stock opened at $266.48 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The firm’s 50-day simple moving average is $229.15 and its 200-day simple moving average is $207.17. Snowflake Inc. has a twelve month low of $113.23 and a twelve month high of $267.80. The firm has a market cap of $90.28 billion, a P/E ratio of -64.21 and a beta of 1.21.

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