Snowflake Inc. (NYSE:SNOW) Shares Bought by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. grew its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 74.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,799 shares of the company’s stock after purchasing an additional 5,042 shares during the period. Great Valley Advisor Group Inc.’s holdings in Snowflake were worth $1,594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SNOW. Wedmont Private Capital bought a new stake in shares of Snowflake during the 2nd quarter worth $453,000. Sequoia Financial Advisors LLC boosted its stake in Snowflake by 3.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,081 shares of the company’s stock worth $551,000 after purchasing an additional 148 shares during the period. RFG Holdings Inc. grew its position in Snowflake by 100.3% during the 2nd quarter. RFG Holdings Inc. now owns 3,076 shares of the company’s stock worth $416,000 after purchasing an additional 1,540 shares in the last quarter. Asset Management Advisors LLC raised its stake in Snowflake by 1.9% during the 2nd quarter. Asset Management Advisors LLC now owns 29,739 shares of the company’s stock valued at $4,017,000 after purchasing an additional 548 shares during the period. Finally, Parisi Gray Wealth Management lifted its holdings in shares of Snowflake by 12.7% in the second quarter. Parisi Gray Wealth Management now owns 2,372 shares of the company’s stock valued at $320,000 after purchasing an additional 267 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNOW. JMP Securities reissued a “market outperform” rating and issued a $235.00 price objective on shares of Snowflake in a research note on Tuesday, June 4th. Piper Sandler lowered their price objective on shares of Snowflake from $240.00 to $165.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research report on Monday, July 8th. Bank of America restated a “neutral” rating and set a $200.00 price target on shares of Snowflake in a report on Wednesday, June 12th. Finally, UBS Group lifted their price objective on Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $197.97.

Insider Activity

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Christian Kleinerman sold 15,000 shares of the company’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 transaction of $1,800,000.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the sale, the insider now directly owns 63,222 shares in the company, valued at approximately $8,112,014.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 534,178 shares of company stock valued at $66,520,575. Insiders own 7.80% of the company’s stock.

Snowflake Stock Up 0.2 %

Shares of NYSE:SNOW opened at $127.27 on Thursday. The firm has a market cap of $42.61 billion, a PE ratio of -45.45 and a beta of 0.85. The company’s 50 day moving average price is $130.08 and its two-hundred day moving average price is $158.22. Snowflake Inc. has a 12-month low of $107.93 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. On average, research analysts expect that Snowflake Inc. will post -2.31 EPS for the current 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.