Fortitude Family Office LLC Takes $34,000 Position in Snowflake Inc. (NYSE:SNOW)

Fortitude Family Office LLC purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 300 shares of the company’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Strategic Wealth Investment Group LLC raised its holdings in shares of Snowflake by 3.1% during the 3rd quarter. Strategic Wealth Investment Group LLC now owns 5,904 shares of the company’s stock valued at $651,000 after purchasing an additional 175 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in Snowflake in the 3rd quarter worth $231,000. Forsta AP Fonden raised its holdings in Snowflake by 12.0% in the 3rd quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock worth $7,294,000 after acquiring an additional 6,800 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Snowflake by 6.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,479 shares of the company’s stock worth $9,168,000 after acquiring an additional 4,634 shares during the period. Finally, Allworth Financial LP raised its holdings in Snowflake by 2,650.2% in the 3rd quarter. Allworth Financial LP now owns 18,674 shares of the company’s stock worth $2,145,000 after acquiring an additional 17,995 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 0.5 %

NYSE:SNOW opened at $118.99 on Thursday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The firm has a market cap of $39.89 billion, a PE ratio of -38.89 and a beta of 0.83. The company’s 50-day moving average price is $114.71 and its two-hundred day moving average price is $131.02.

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

Analyst Ratings Changes

SNOW has been the topic of several recent analyst reports. Wedbush upgraded shares of Snowflake to a “hold” rating in a report on Thursday, October 17th. Wells Fargo & Company dropped their target price on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Evercore ISI dropped their target price on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Jefferies Financial Group dropped their target price on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Robert W. Baird decreased their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average price target of $174.74.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, 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 transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,538 shares of company stock valued at $7,049,994. Insiders own 7.80% of the company’s stock.

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.