Snowflake Inc. (NYSE:SNOW) Shares Bought by Xponance Inc.

Xponance Inc. lifted its stake in Snowflake Inc. (NYSE:SNOW) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,664 shares of the company’s stock after acquiring an additional 1,643 shares during the period. Xponance Inc.’s holdings in Snowflake were worth $7,520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Accent Capital Management LLC bought a new stake in Snowflake in the fourth quarter worth $25,000. LRI Investments LLC bought a new stake in shares of Snowflake during the 1st quarter worth $29,000. FinTrust Capital Advisors LLC grew its stake in Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after buying an additional 128 shares during the last quarter. Riverview Trust Co bought a new position in Snowflake in the 1st quarter worth $31,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Snowflake during the 1st quarter worth $32,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of Snowflake stock opened at $113.25 on Tuesday. The company has a 50 day simple moving average of $120.46 and a two-hundred day simple moving average of $138.78. The firm has a market cap of $37.92 billion, a PE ratio of -40.45 and a beta of 0.83. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) 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 analysts’ expectations 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 last year, the business earned ($0.52) earnings per share. As a group, research analysts anticipate that Snowflake Inc. will post -2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SNOW shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price target on shares of Snowflake in a report on Monday, August 19th. UBS Group cut their target price on Snowflake from $171.00 to $155.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Evercore ISI dropped their target price on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Scotiabank lowered their target price on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

Insider Activity at Snowflake

In other Snowflake news, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares in the company, valued at approximately $607,236.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total transaction of $501,349.55. Following the sale, the chief accounting officer now directly owns 30,613 shares in the company, valued at $3,991,629.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 848 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The disclosure for this sale can be found here. Insiders have sold a total of 48,083 shares of company stock worth $6,089,392 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

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.