Frank Rimerman Advisors LLC Purchases 924 Shares of Snowflake Inc. (NYSE:SNOW)

Frank Rimerman Advisors LLC lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 39.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,242 shares of the company’s stock after purchasing an additional 924 shares during the period. Frank Rimerman Advisors LLC’s holdings in Snowflake were worth $438,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Accent Capital Management LLC purchased a new stake in Snowflake in the fourth quarter worth about $25,000. LRI Investments LLC increased its holdings in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC bought a new stake in Snowflake during the 2nd quarter worth approximately $27,000. Riverview Trust Co purchased a new position in Snowflake during the first quarter valued at approximately $31,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Snowflake in the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 861 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $95,924.01. Following the completion of the sale, the executive vice president now directly owns 751,755 shares of the company’s stock, valued at approximately $83,753,024.55. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Snowflake news, EVP Christian Kleinerman sold 861 shares of Snowflake stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $95,924.01. Following the completion of the sale, the executive vice president now directly owns 751,755 shares of the company’s stock, valued at approximately $83,753,024.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Benoit Dageville sold 287 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the transaction, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,386 shares of company stock worth $5,715,941. Insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $112.68 on Wednesday. The business has a 50 day simple moving average of $120.46 and a two-hundred day simple moving average of $138.78. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter in the previous year, the business earned ($0.52) EPS. Snowflake’s revenue was up 28.9% compared to the same quarter last year. As a group, equities research analysts predict that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SNOW. The Goldman Sachs Group restated a “buy” rating and set a $220.00 target price on shares of Snowflake in a research note on Monday, July 1st. Robert W. Baird lowered their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. DA Davidson cut their target price on Snowflake from $230.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Barclays lowered their price target on Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Citigroup cut their price objective on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Two 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 company’s stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $175.17.

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.