1,375 Shares in Snowflake Inc. $SNOW Bought by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,375 shares of the company’s stock, valued at approximately $308,000.

Other large investors have also recently added to or reduced their stakes in the company. Diligent Investors LLC lifted its holdings in shares of Snowflake by 2.9% in the second quarter. Diligent Investors LLC now owns 4,554 shares of the company’s stock valued at $1,019,000 after purchasing an additional 127 shares in the last quarter. Quent Capital LLC raised its position in Snowflake by 21,396.1% in the 2nd quarter. Quent Capital LLC now owns 21,926 shares of the company’s stock valued at $4,906,000 after buying an additional 21,824 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in Snowflake in the 2nd quarter valued at approximately $967,000. Fairvoy Private Wealth LLC acquired a new position in Snowflake during the 2nd quarter worth approximately $1,040,000. Finally, Ameritas Advisory Services LLC acquired a new position in Snowflake during the 2nd quarter worth approximately $84,000. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the sale, the executive vice president owned 527,336 shares of the company’s stock, valued at $123,132,956. This trade represents a 1.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction on Friday, August 1st. The stock was sold at an average price of $208.69, for a total transaction of $10,505,037.22. Following the transaction, the director directly owned 36,116 shares of the company’s stock, valued at approximately $7,537,048.04. This trade represents a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,177,434 shares of company stock valued at $269,030,661 over the last 90 days. 6.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on SNOW shares. Truist Financial boosted their price objective on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. boosted their price target on shares of Snowflake from $225.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. UBS Group increased their price objective on shares of Snowflake from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Rosenblatt Securities raised their price objective on Snowflake from $210.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Finally, Monness Crespi & Hardt upped their target price on Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.53.

Snowflake Stock Up 3.2%

Shares of SNOW stock opened at $242.73 on Tuesday. Snowflake Inc. has a 52-week low of $113.06 and a 52-week high of $249.99. The stock has a market cap of $82.24 billion, a price-to-earnings ratio of -58.49 and a beta of 1.21. The firm’s 50-day moving average is $216.42 and its 200-day moving average is $196.76. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business’s revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. Sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current 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.