Meeder Advisory Services Inc. Grows Holdings in Snowflake Inc. (NYSE:SNOW)

Meeder Advisory Services Inc. increased its stake in Snowflake Inc. (NYSE:SNOW) by 31.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,688 shares of the company’s stock after buying an additional 1,122 shares during the period. Meeder Advisory Services Inc.’s holdings in Snowflake were worth $633,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SNOW. Accent Capital Management LLC bought a new stake in shares of Snowflake in the 4th quarter worth about $25,000. LRI Investments LLC increased its holdings in Snowflake by 155.6% in 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 during the last quarter. Wellington Shields Capital Management LLC acquired a new stake in Snowflake during the second quarter valued at approximately $27,000. Riverview Trust Co bought a new position in Snowflake during the 1st quarter worth approximately $31,000. Finally, Hartford Financial Management Inc. acquired a new position in shares of Snowflake in the 1st quarter worth approximately $32,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares in the company, valued at approximately $23,998,330.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 512,262 shares of company stock worth $63,340,261. Insiders own 7.80% of the company’s stock.

Snowflake Trading Up 0.6 %

Shares of NYSE SNOW opened at $113.67 on Friday. The firm has a 50-day moving average of $123.48 and a two-hundred day moving average of $142.09. The company has a market capitalization of $38.06 billion, a price-to-earnings ratio of -40.60 and a beta of 0.83. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.52) earnings per share. As a group, research analysts predict that Snowflake Inc. will post -2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SNOW shares. Wedbush reduced their price objective on Snowflake from $210.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. HSBC upgraded shares of Snowflake from a “reduce” rating to a “hold” rating and raised their price target for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Canaccord Genuity Group dropped their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. JMP Securities decreased their target price 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. Finally, Barclays dropped their price target on Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average 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.