Stratos Wealth Advisors LLC Raises Stake in Snowflake Inc. (NYSE:SNOW)

Stratos Wealth Advisors LLC boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 69.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,908 shares of the company’s stock after buying an additional 3,248 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Snowflake were worth $908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Mather Group LLC. purchased a new stake in shares of Snowflake in the first quarter worth about $45,000. RFG Advisory LLC boosted its position in Snowflake by 9.3% in the 1st quarter. RFG Advisory LLC now owns 2,385 shares of the company’s stock worth $385,000 after purchasing an additional 202 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Snowflake during the 1st quarter worth approximately $31,000. Arkfeld Wealth Strategies L.L.C. grew its stake in shares of Snowflake by 40.2% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 5,263 shares of the company’s stock worth $805,000 after purchasing an additional 1,510 shares during the period. Finally, Ayalon Insurance Comp Ltd. acquired a new position in shares of Snowflake in the 1st quarter valued at $2,486,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Up 0.0 %

NYSE SNOW opened at $119.58 on Tuesday. The stock has a fifty day simple moving average of $116.58 and a 200-day simple moving average of $132.79. The stock has a market cap of $40.04 billion, a PE ratio of -42.71 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 announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same period last year, the business earned ($0.52) earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. Research analysts predict that Snowflake Inc. will post -2.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on SNOW. Scotiabank dropped 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. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and set a $165.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. UBS Group cut their price objective on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 target price on shares of Snowflake in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Insider Buying and Selling at Snowflake

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

About Snowflake

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.