Alta Wealth Advisors LLC Has $369,000 Position in Snowflake Inc. (NYSE:SNOW)

Alta Wealth Advisors LLC lifted its position in Snowflake Inc. (NYSE:SNOW) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,210 shares of the company’s stock after acquiring an additional 121 shares during the period. Alta Wealth Advisors LLC’s holdings in Snowflake were worth $369,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LRI Investments LLC raised its holdings in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the period. Wellington Shields Capital Management LLC acquired a new position in shares of Snowflake in the 2nd quarter valued at $27,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake in the 3rd quarter valued at $30,000. Riverview Trust Co acquired a new stake in Snowflake during the 1st quarter worth $31,000. Finally, Future Financial Wealth Managment LLC bought a new position in Snowflake during the first quarter worth about $32,000. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JMP Securities dropped their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Morgan Stanley restated an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a report on Thursday, August 22nd. Canaccord Genuity Group lowered their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Needham & Company LLC cut their price objective on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Loop Capital lowered their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.74.

Snowflake Price Performance

Shares of Snowflake stock opened at $119.54 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company has a market capitalization of $40.02 billion, a price-to-earnings ratio of -42.69 and a beta of 0.83. The business has a fifty day simple moving average of $116.65 and a two-hundred day simple moving average of $133.15.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company 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 posted ($0.52) EPS. Snowflake’s quarterly revenue was up 28.9% compared to the same quarter last year. As a group, equities analysts anticipate that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the transaction, the director now owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,538 shares of company stock valued at $7,049,994. 7.80% of the stock is owned by 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.