Blue Trust Inc. Boosts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Blue Trust Inc. grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 103.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 524 shares of the company’s stock after buying an additional 267 shares during the period. Blue Trust Inc.’s holdings in Snowflake were worth $71,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SNOW. Accent Capital Management LLC purchased a new position in Snowflake in the fourth quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in shares of Snowflake in the 1st quarter valued at $29,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after acquiring an additional 128 shares in the last quarter. Riverview Trust Co purchased a new stake in Snowflake during the 1st quarter worth $31,000. Finally, Hartford Financial Management Inc. acquired a new stake in Snowflake in the 1st quarter valued at $32,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price objective on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Macquarie decreased their price target on Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Citigroup lowered their price objective on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday. Wells Fargo & Company cut shares of Snowflake from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $200.00 to $130.00 in a research report on Thursday, August 15th. Finally, Evercore ISI dropped their target price on Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.03.

Snowflake Stock Performance

Shares of SNOW opened at $135.01 on Thursday. The firm has a fifty day moving average of $130.18 and a 200-day moving average of $155.59. The company has a market cap of $45.20 billion, a price-to-earnings ratio of -48.22 and a beta of 0.85. Snowflake Inc. has a 1 year low of $107.93 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The firm had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Analysts predict that Snowflake Inc. will post -2.31 EPS for the current year.

Insider Activity

In related news, Director Teresa Briggs sold 848 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now owns 4,247 shares in the company, valued at approximately $607,236.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Grzegorz Czajkowski sold 469,120 shares of Snowflake stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total value of $57,743,980.80. Following the transaction, the executive vice president now owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $607,236.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 534,178 shares of company stock valued at $66,520,575. Insiders own 7.80% of the company’s stock.

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.