180 Wealth Advisors LLC Grows Stock Position in Snowflake Inc. (NYSE:SNOW)

180 Wealth Advisors LLC lifted its stake in Snowflake Inc. (NYSE:SNOW) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,030 shares of the company’s stock after purchasing an additional 130 shares during the period. 180 Wealth Advisors LLC’s holdings in Snowflake were worth $1,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNOW. BerganKDV Wealth Management LLC raised its stake in Snowflake by 153.7% in the first quarter. BerganKDV Wealth Management LLC now owns 170 shares of the company’s stock valued at $26,000 after buying an additional 103 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Snowflake by 333.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. M&R Capital Management Inc. increased its position in shares of Snowflake by 100.0% during the first quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Manchester Capital Management LLC increased its position in shares of Snowflake by 1,264.7% during the first quarter. Manchester Capital Management LLC now owns 232 shares of the company’s stock worth $36,000 after purchasing an additional 215 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Snowflake by 822.2% during the first quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock worth $38,000 after purchasing an additional 148 shares in the last quarter. 63.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on SNOW shares. Morgan Stanley reiterated an “overweight” rating and set a $215.00 target price on shares of Snowflake in a research report on Friday, June 30th. Piper Sandler cut their target price on Snowflake from $210.00 to $205.00 and set an “overweight” rating on the stock in a research report on Thursday, August 24th. Citigroup lifted their target price on Snowflake from $189.00 to $191.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. Sanford C. Bernstein cut their target price on Snowflake from $157.00 to $148.00 in a research report on Friday, May 26th. Finally, Wolfe Research cut Snowflake from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $190.85.

Snowflake Stock Down 1.1 %

Shares of Snowflake stock traded down $1.74 during trading on Monday, hitting $160.67. 534,621 shares of the company were exchanged, compared to its average volume of 5,722,524. Snowflake Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $193.94. The stock has a market capitalization of $52.97 billion, a price-to-earnings ratio of -61.06 and a beta of 0.78. The firm has a 50 day moving average price of $163.92 and a 200 day moving average price of $159.73.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 23rd. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.12. The firm had revenue of $674.00 million during the quarter, compared to the consensus estimate of $662.22 million. Snowflake had a negative return on equity of 14.07% and a negative net margin of 35.22%. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.67) EPS. Analysts predict that Snowflake Inc. will post -1.62 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, CEO Frank Slootman sold 1,761 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $177.47, for a total value of $312,524.67. Following the completion of the transaction, the chief executive officer now directly owns 185,683 shares in the company, valued at approximately $32,953,162.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Michael Scarpelli sold 200,000 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $180.50, for a total transaction of $36,100,000.00. Following the completion of the sale, the chief financial officer now directly owns 142,546 shares in the company, valued at approximately $25,729,553. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frank Slootman sold 1,761 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $177.47, for a total value of $312,524.67. Following the sale, the chief executive officer now owns 185,683 shares of the company’s stock, valued at $32,953,162.01. The disclosure for this sale can be found here. In the last three months, insiders sold 644,425 shares of company stock worth $113,839,347. Insiders own 8.30% of the company’s stock.

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.