Ignite Planners LLC Boosts Position in Snowflake Inc. (NYSE:SNOW)

Ignite Planners LLC grew its stake in Snowflake Inc. (NYSE:SNOW) by 31.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,656 shares of the company’s stock after buying an additional 628 shares during the quarter. Ignite Planners LLC’s holdings in Snowflake were worth $305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNOW. Accent Capital Management LLC bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $25,000. LRI Investments LLC acquired a new stake in Snowflake during the 1st quarter worth about $29,000. Riverview Trust Co acquired a new stake in Snowflake during the 1st quarter worth about $31,000. Future Financial Wealth Managment LLC acquired a new stake in Snowflake during the 1st quarter worth about $32,000. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of Snowflake during the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Bank of America cut their price target on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Wells Fargo & Company lowered their target price on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Canaccord Genuity Group lowered their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 price objective on shares of Snowflake in a report on Monday, July 1st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.74.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 861 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $95,924.01. Following the sale, the executive vice president now directly owns 751,755 shares in the company, valued at $83,753,024.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Frank Slootman sold 1,606 shares of the firm’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 completion of the transaction, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 861 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $95,924.01. Following the completion of the transaction, the executive vice president now owns 751,755 shares of the company’s stock, valued at approximately $83,753,024.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,538 shares of company stock worth $3,449,994. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Down 0.3 %

Snowflake stock opened at $113.51 on Wednesday. The stock has a market capitalization of $38.00 billion, a PE ratio of -40.65 and a beta of 0.83. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a 50 day moving average of $116.80 and a 200-day moving average of $135.43.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS 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 business had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. Equities analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

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.