Farther Finance Advisors LLC Raises Stake in Snowflake Inc. (NYSE:SNOW)

Farther Finance Advisors LLC raised its position in Snowflake Inc. (NYSE:SNOW) by 64.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,179 shares of the company’s stock after purchasing an additional 1,640 shares during the period. Farther Finance Advisors LLC’s holdings in Snowflake were worth $597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SNOW. Yousif Capital Management LLC raised its stake in Snowflake by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 3,110 shares of the company’s stock valued at $619,000 after buying an additional 138 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Snowflake during the 4th quarter worth about $278,000. First Trust Direct Indexing L.P. lifted its stake in Snowflake by 57.2% during the fourth quarter. First Trust Direct Indexing L.P. now owns 3,090 shares of the company’s stock worth $615,000 after purchasing an additional 1,124 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Snowflake by 142.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock valued at $432,000 after purchasing an additional 1,277 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Snowflake by 1.7% in the fourth quarter. M&T Bank Corp now owns 16,040 shares of the company’s stock valued at $3,192,000 after purchasing an additional 274 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 3,845 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Grzegorz Czajkowski sold 469,120 shares of Snowflake stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the sale, the executive vice president now directly owns 494,942 shares in the company, valued at $60,922,410.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Emily Ho sold 3,845 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the completion of the transaction, the chief accounting officer now directly owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. Insiders sold a total of 512,678 shares of company stock valued at $63,434,135 in the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Rosenblatt Securities restated a “buy” rating and issued a $195.00 target price on shares of Snowflake in a report on Monday, August 19th. JPMorgan Chase & Co. raised their price objective on Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Stifel Nicolaus reduced their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. Barclays dropped their price target on Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.03.

Snowflake Stock Performance

Snowflake stock opened at $114.23 on Tuesday. Snowflake Inc. has a fifty-two week low of $107.93 and a fifty-two week high of $237.72. The firm has a market capitalization of $38.24 billion, a price-to-earnings ratio of -40.80 and a beta of 0.85. The stock’s fifty day moving average is $128.19 and its two-hundred day moving average is $148.84.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating 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 18.86%. The firm had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. The firm’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.52) EPS. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

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.