GM Advisory Group LLC Raises Stock Holdings in Snowflake Inc. (NYSE:SNOW)

GM Advisory Group LLC grew its stake in Snowflake Inc. (NYSE:SNOW) by 41.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,564 shares of the company’s stock after acquiring an additional 1,045 shares during the quarter. GM Advisory Group LLC’s holdings in Snowflake were worth $481,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SNOW. Accent Capital Management LLC purchased a new position in Snowflake during the fourth quarter worth about $25,000. 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 buying an additional 112 shares during the period. Wellington Shields Capital Management LLC purchased a new position in Snowflake during the second quarter worth about $27,000. Riverview Trust Co purchased a new position in Snowflake during the first quarter worth about $31,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Snowflake during the first quarter worth about $32,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $2,144,700.00. Following the completion of the sale, the executive vice president now directly owns 733,773 shares in the company, valued at approximately $104,914,863.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 517,203 shares of company stock valued at $63,833,373. Insiders own 7.80% of the company’s stock.

Snowflake Stock Up 2.9 %

NYSE:SNOW opened at $114.00 on Friday. The business’s 50 day moving average is $121.87 and its two-hundred day moving average is $140.21. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a market cap of $38.21 billion, a PE ratio of -40.71 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same quarter last year, the business posted ($0.52) EPS. Snowflake’s quarterly revenue was up 28.9% compared to the same quarter last year. As a group, sell-side analysts expect that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on SNOW shares. Piper Sandler restated an “overweight” rating and set a $165.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Needham & Company LLC dropped their price target on Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. TD Cowen dropped their price target on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Finally, JMP Securities dropped their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

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.