Aaron Wealth Advisors LLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Aaron Wealth Advisors LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,037 shares of the company’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNOW. LRI Investments LLC grew its stake in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC acquired a new position in shares of Snowflake during the second quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake in the 3rd quarter worth $30,000. Riverview Trust Co acquired a new stake in Snowflake in the 1st quarter valued at $31,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Snowflake in the 1st quarter valued at $32,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SNOW shares. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and raised their price objective for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. Jefferies Financial Group cut their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Canaccord Genuity Group decreased their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. DA Davidson restated a “buy” rating and issued a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. Finally, Wells Fargo & Company cut their target price on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.74.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Benoit Dageville sold 287 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,049,994 in the last quarter. Insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $119.54 on Monday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The stock has a fifty day moving average of $116.65 and a 200 day moving average of $133.01. The firm has a market capitalization of $40.02 billion, a price-to-earnings ratio of -42.69 and a beta of 0.83.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. Snowflake’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.52) earnings per share. Equities analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Snowflake 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.