Gilliland Jeter Wealth Management LLC Buys 389 Shares of Snowflake Inc. (NYSE:SNOW)

Gilliland Jeter Wealth Management LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 11.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,759 shares of the company’s stock after acquiring an additional 389 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Snowflake were worth $432,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SNOW. LRI Investments LLC lifted its position in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the period. Wellington Shields Capital Management LLC acquired a new position in Snowflake during the second quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new stake in Snowflake during the third quarter worth $30,000. Riverview Trust Co acquired a new stake in shares of Snowflake in the 1st quarter valued at $31,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Snowflake in the 1st quarter valued at $32,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on SNOW shares. Stifel Nicolaus dropped their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Argus initiated coverage on shares of Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. JMP Securities dropped their price objective on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research note on Thursday, August 22nd. Finally, Citigroup decreased their target price on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $174.74.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the transaction, the executive vice president now owns 721,755 shares of the company’s stock, valued at $86,610,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Frank Slootman sold 6,251 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $715,051.89. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at $23,877,196.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the sale, the executive vice president now owns 721,755 shares in the company, valued at approximately $86,610,600. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,538 shares of company stock worth $7,049,994. 7.80% of the stock is owned by insiders.

Snowflake Stock Up 0.4 %

SNOW stock opened at $119.54 on Monday. The firm has a market capitalization of $40.02 billion, a PE ratio of -42.69 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 stock’s 50 day moving average is $116.65 and its 200-day moving average is $133.01.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. During the same period last year, the business earned ($0.52) EPS. The business’s revenue was up 28.9% on a year-over-year basis. On average, equities research analysts anticipate that Snowflake Inc. will post -2.41 earnings per share 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.