Mayflower Financial Advisors LLC Increases Position in Snowflake Inc. (NYSE:SNOW)

Mayflower Financial Advisors LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 31.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,010 shares of the company’s stock after purchasing an additional 717 shares during the period. Mayflower Financial Advisors LLC’s holdings in Snowflake were worth $407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SNOW. Kestra Private Wealth Services LLC purchased a new position in Snowflake during the fourth quarter worth about $278,000. Benjamin F. Edwards & Company Inc. raised its holdings in Snowflake by 142.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock worth $432,000 after purchasing an additional 1,277 shares in the last quarter. Spire Wealth Management raised its holdings in Snowflake by 283.0% during the fourth quarter. Spire Wealth Management now owns 5,155 shares of the company’s stock worth $995,000 after purchasing an additional 3,809 shares in the last quarter. Private Advisor Group LLC raised its holdings in Snowflake by 32.9% during the fourth quarter. Private Advisor Group LLC now owns 20,324 shares of the company’s stock worth $4,045,000 after purchasing an additional 5,027 shares in the last quarter. Finally, Lincoln National Corp raised its holdings in Snowflake by 9.3% during the fourth quarter. Lincoln National Corp now owns 2,625 shares of the company’s stock worth $522,000 after purchasing an additional 223 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction, the executive vice president now owns 718,773 shares of the company’s stock, valued at $86,252,760. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the transaction, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. The disclosure for this sale can be found here. Insiders have sold a total of 512,678 shares of company stock valued at $63,434,135 over the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake Stock Up 0.8 %

NYSE:SNOW opened at $111.71 on Friday. The company has a market cap of $37.40 billion, a P/E ratio of -39.90 and a beta of 0.83. Snowflake Inc. has a fifty-two week low of $107.93 and a fifty-two week high of $237.72. The firm’s 50 day moving average is $127.10 and its two-hundred day moving average is $147.49.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. Snowflake’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.52) earnings per share. Research analysts forecast that Snowflake Inc. will post -2.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the subject of several analyst reports. Bank of America cut their price target on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Robert W. Baird dropped their target price on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 target price on shares of Snowflake in a report on Monday, August 19th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $220.00 target price on shares of Snowflake in a report on Monday, July 1st. Finally, Needham & Company LLC dropped their target price on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $176.03.

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.