Allen Capital Group LLC Raises Holdings in Snowflake Inc. (NYSE:SNOW)

Allen Capital Group LLC increased its position in Snowflake Inc. (NYSE:SNOW) by 20.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,292 shares of the company’s stock after buying an additional 2,802 shares during the period. Allen Capital Group LLC’s holdings in Snowflake were worth $1,871,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SNOW. LRI Investments LLC acquired a new position in Snowflake in the first quarter worth about $29,000. Wellington Shields Capital Management LLC acquired a new position in Snowflake in the second quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in Snowflake in the third quarter valued at approximately $30,000. Global Financial Private Client LLC acquired a new position in Snowflake in the first quarter valued at approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in Snowflake in the second quarter valued at approximately $39,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares of the company’s stock, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,538 shares of company stock valued at $7,061,544. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNOW. Barclays lifted their target price on Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday. Scotiabank cut their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 22nd. Monness Crespi & Hardt lifted their price target on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group dropped their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Robert W. Baird dropped their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Price Performance

SNOW stock opened at $171.05 on Friday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The company has a 50-day moving average of $118.98 and a two-hundred day moving average of $128.19. The stock has a market capitalization of $57.34 billion, a price-to-earnings ratio of -55.90 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the company earned ($0.52) earnings per share. The firm’s revenue was up 28.9% on a year-over-year basis. Equities analysts expect that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Snowflake Company 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.