376 Shares in Snowflake Inc. $SNOW Acquired by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 376 shares of the company’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SNOW. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Snowflake in the second quarter worth about $224,000. HighMark Wealth Management LLC grew its stake in shares of Snowflake by 200.0% in the 2nd quarter. HighMark Wealth Management LLC now owns 225 shares of the company’s stock worth $50,000 after buying an additional 150 shares in the last quarter. Yeomans Consulting Group Inc. bought a new stake in Snowflake during the 2nd quarter valued at about $299,000. Hilltop National Bank purchased a new position in Snowflake during the 2nd quarter valued at about $53,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Snowflake by 0.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,771 shares of the company’s stock valued at $11,809,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNOW. Stephens initiated coverage on shares of Snowflake in a research report on Friday, July 18th. They set an “overweight” rating and a $261.00 target price on the stock. Oppenheimer lifted their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Stifel Nicolaus boosted their price objective on shares of Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Bank of America upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $220.00 to $240.00 in a research report on Wednesday, August 20th. Finally, Wedbush upped their price objective on shares of Snowflake from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $256.18.

Snowflake Price Performance

Shares of SNOW stock opened at $242.52 on Friday. Snowflake Inc. has a 12 month low of $113.23 and a 12 month high of $255.39. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a market cap of $82.17 billion, a price-to-earnings ratio of -58.44 and a beta of 1.21. The stock has a 50-day moving average price of $218.64 and a 200 day moving average price of $198.54.

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

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 710,083 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the transaction, the director owned 165,507 shares of the company’s stock, valued at $38,144,398.29. This represents a 81.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total value of $2,335,000.00. Following the transaction, the executive vice president owned 527,336 shares in the company, valued at $123,132,956. This trade represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,182,434 shares of company stock worth $270,280,661 over the last quarter. 6.80% of the stock is currently owned by corporate 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.