DCF Advisers LLC Buys Shares of 3,250 Snowflake Inc. (NYSE:SNOW)

DCF Advisers LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,250 shares of the company’s stock, valued at approximately $439,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SNOW. Accent Capital Management LLC acquired a new stake in shares of Snowflake during the 4th quarter valued at $25,000. LRI Investments LLC boosted its stake in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake during the second quarter valued at about $27,000. Riverview Trust Co bought a new stake in shares of Snowflake during the first quarter worth about $31,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Snowflake in the first quarter valued at approximately $32,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 2.9 %

Shares of NYSE:SNOW opened at $114.00 on Friday. 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 $121.87 and its 200-day moving average is $140.21. The firm has a market capitalization of $38.21 billion, a price-to-earnings ratio of -40.71 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.52) earnings per share. Equities research analysts anticipate that Snowflake Inc. will post -2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on SNOW. Mizuho cut their target price on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. JMP Securities cut their price target on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. Loop Capital reduced their price objective on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Citigroup lowered their target price on Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 target price on shares of Snowflake in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the transaction, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the completion of the sale, the executive vice president now owns 494,942 shares in the company, valued at approximately $60,922,410.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. The disclosure for this sale can be found here. Insiders have sold 517,203 shares of company stock worth $63,833,373 in the last quarter. Insiders own 7.80% of the company’s stock.

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.