Snowflake Inc. (NYSE:SNOW) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC grew its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 8.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,013 shares of the company’s stock after acquiring an additional 487 shares during the quarter. Empowered Funds LLC’s holdings in Snowflake were worth $691,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Modus Advisors LLC increased its stake in shares of Snowflake by 3.9% during the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after acquiring an additional 94 shares during the period. Catalyst Private Wealth LLC increased its position in shares of Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after purchasing an additional 104 shares during the period. Iron Gate Global Advisors LLC raised its stake in shares of Snowflake by 0.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock worth $1,878,000 after buying an additional 105 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Snowflake by 30.3% during the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after buying an additional 108 shares in the last quarter. Finally, LRI Investments LLC boosted its stake in 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 buying an additional 112 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNOW. Citigroup cut their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Jefferies Financial Group increased their target price on shares of Snowflake from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Scotiabank decreased their price target on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 22nd. Truist Financial reiterated a “buy” rating and set a $210.00 price objective on shares of Snowflake in a research report on Thursday. Finally, Piper Sandler restated an “overweight” rating and issued a $185.00 target price (up from $165.00) on shares of Snowflake in a report on Thursday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Trading Down 2.3 %

SNOW stock opened at $167.44 on Friday. The firm has a market cap of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company has a fifty day simple moving average of $120.06 and a 200 day simple moving average of $128.00.

Snowflake (NYSE:SNOW) last released its quarterly 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. Snowflake had a negative return on equity of 22.01% and a negative net margin of 33.02%. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter in the prior year, the company posted ($0.52) EPS. The firm’s revenue was up 28.9% on a year-over-year basis. As a group, analysts forecast that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Frank Slootman sold 6,251 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $715,051.89. Following the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $23,877,196.65. This trade represents a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is currently owned by insiders.

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.