Fortress Investment Group LLC Makes New Investment in Snowflake Inc. $SNOW

Fortress Investment Group LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 10,000 shares of the company’s stock, valued at approximately $2,238,000.

Several other large investors also recently added to or reduced their stakes in SNOW. Capital Advantage Inc. increased its stake in shares of Snowflake by 1.1% during the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after purchasing an additional 48 shares during the last quarter. Wedbush Securities Inc. increased its position in Snowflake by 1.3% during the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after buying an additional 48 shares during the last quarter. Avion Wealth increased its position in Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares during the last quarter. Insigneo Advisory Services LLC raised its holdings in Snowflake by 1.3% during the second quarter. Insigneo Advisory Services LLC now owns 4,003 shares of the company’s stock valued at $896,000 after buying an additional 52 shares in the last quarter. Finally, Advyzon Investment Management LLC lifted its position in shares of Snowflake by 3.8% in the second quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock worth $340,000 after buying an additional 55 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Price Performance

Shares of Snowflake stock opened at $217.95 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.48. The company has a market cap of $73.84 billion, a PE ratio of -53.95 and a beta of 1.09. The firm has a fifty day moving average price of $250.24 and a two-hundred day moving average price of $227.20. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. Analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Snowflake in a report on Thursday, December 4th. Raymond James Financial lifted their price target on shares of Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Canaccord Genuity Group upped their price objective on shares of Snowflake from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Morgan Stanley boosted their target price on shares of Snowflake from $272.00 to $299.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $237.00 price target on shares of Snowflake in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $274.78.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 548 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $223.31, for a total value of $122,373.88. Following the completion of the transaction, the executive vice president directly owned 510,435 shares in the company, valued at approximately $113,985,239.85. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $230.65, for a total transaction of $92,951.95. Following the sale, the director owned 24,524 shares in the company, valued at approximately $5,656,460.60. This trade represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 221,360 shares of company stock valued at $53,391,315. 6.80% of the stock is owned by corporate insiders.

Snowflake Company 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.