Centaurus Financial Inc. Raises Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Centaurus Financial Inc. raised its position in shares of Snowflake Inc. (NYSE:SNOW) by 76.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,577 shares of the company’s stock after purchasing an additional 2,856 shares during the period. Centaurus Financial Inc.’s holdings in Snowflake were worth $888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Accent Capital Management LLC bought a new position in Snowflake during the 4th quarter valued at approximately $25,000. LRI Investments LLC grew its stake in shares of Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new stake in shares of Snowflake in the second quarter worth $27,000. Riverview Trust Co bought a new position in shares of Snowflake during the first quarter valued at $31,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Snowflake in the 1st quarter worth about $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SNOW shares. Evercore ISI reduced their price objective on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Robert W. Baird reduced their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Loop Capital lowered their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Canaccord Genuity Group reduced their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price target on shares of Snowflake in a report on Monday, July 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.74.

Snowflake Trading Up 3.8 %

NYSE:SNOW opened at $114.69 on Friday. The business’s 50-day moving average is $117.12 and its 200 day moving average is $136.09. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a market capitalization of $38.40 billion, a P/E ratio of -40.96 and a beta of 0.83.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the prior year, the firm earned ($0.52) EPS. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, research analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 1,606 shares of the business’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 disclosure for this sale can be found here. Insiders sold 29,538 shares of company stock worth $3,449,994 over the last 90 days. 7.80% of the stock is owned by 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.