RFG Advisory LLC Grows Stake in Snowflake Inc. (NYSE:SNOW)

RFG Advisory LLC grew its position in Snowflake Inc. (NYSE:SNOW) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,385 shares of the company’s stock after purchasing an additional 202 shares during the quarter. RFG Advisory LLC’s holdings in Snowflake were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SNOW. Accent Capital Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth $25,000. FinTrust Capital Advisors LLC lifted its stake in shares of Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares during the period. M&R Capital Management Inc. lifted its stake in shares of Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after buying an additional 100 shares during the period. Parkside Financial Bank & Trust lifted its position in Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares during the period. Finally, Quarry LP lifted its position in Snowflake by 320.0% during the fourth quarter. Quarry LP now owns 210 shares of the company’s stock valued at $42,000 after purchasing an additional 160 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SNOW shares. Truist Financial decreased their target price on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Royal Bank of Canada decreased their target price on shares of Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a research report on Wednesday, June 5th. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Canaccord Genuity Group decreased their target price on shares of Snowflake from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, Evercore ISI decreased their target price on shares of Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $198.64.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares in the company, valued at approximately $124,504,006.55. 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 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares in the company, valued at approximately $124,504,006.55. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Emily Ho sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the completion of the transaction, the chief accounting officer now owns 36,076 shares in the company, valued at $5,712,995.36. The disclosure for this sale can be found here. Insiders have sold 46,147 shares of company stock worth $6,686,742 in the last ninety days. 7.80% of the stock is owned by insiders.

Snowflake Price Performance

NYSE:SNOW opened at $124.82 on Tuesday. The firm has a market capitalization of $41.79 billion, a price-to-earnings ratio of -44.58 and a beta of 0.85. The company’s 50-day moving average is $147.15 and its two-hundred day moving average is $174.84. Snowflake Inc. has a 1-year low of $124.40 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. As a group, equities analysts anticipate that Snowflake Inc. will post -2.27 earnings per share for the current fiscal year.

Snowflake Company 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.