Foundations Investment Advisors LLC Boosts Holdings in Snowflake Inc. (NYSE:SNOW)

Foundations Investment Advisors LLC grew its position in Snowflake Inc. (NYSE:SNOW) by 96.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,909 shares of the company’s stock after acquiring an additional 5,346 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Snowflake were worth $1,474,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SNOW. Accent Capital Management LLC bought a new stake in Snowflake in the fourth quarter worth about $25,000. LRI Investments LLC raised its holdings 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 buying an additional 112 shares during the period. Riverview Trust Co bought a new stake in shares of Snowflake during the 1st quarter worth approximately $31,000. Hartford Financial Management Inc. purchased a new position in Snowflake during the 1st quarter valued at $32,000. Finally, Future Financial Wealth Managment LLC bought a new position in Snowflake in the 1st quarter valued at $32,000. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 target price on shares of Snowflake in a research report on Monday, July 1st. Canaccord Genuity Group lowered their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Robert W. Baird reduced their target price 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. Stifel Nicolaus lowered their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price objective on shares of Snowflake in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.03.

Snowflake Stock Up 0.8 %

Shares of NYSE:SNOW opened at $111.71 on Friday. Snowflake Inc. has a 52-week low of $107.93 and a 52-week high of $237.72. The stock has a market cap of $37.40 billion, a price-to-earnings ratio of -39.90 and a beta of 0.83. The business has a 50-day moving average price of $127.10 and a 200-day moving average price of $147.49.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. Snowflake’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.52) EPS. As a group, equities analysts anticipate that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at $86,252,760. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at $86,252,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the sale, the insider now owns 63,222 shares in the company, valued at approximately $8,112,014.82. 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 over the last 90 days. Insiders own 7.80% of the company’s stock.

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.