Axim Planning & Wealth Takes Position in Snowflake Inc. $SNOW

by · The Cerbat Gem

Axim Planning & Wealth purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 954 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Moors & Cabot Inc. lifted its holdings in shares of Snowflake by 13.7% during the second quarter. Moors & Cabot Inc. now owns 2,388 shares of the company’s stock valued at $534,000 after purchasing an additional 288 shares in the last quarter. Fourth Dimension Wealth LLC lifted its holdings in shares of Snowflake by 16.7% during the second quarter. Fourth Dimension Wealth LLC now owns 1,020 shares of the company’s stock valued at $228,000 after purchasing an additional 146 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Snowflake by 38.4% during the second quarter. Huntington National Bank now owns 245,998 shares of the company’s stock valued at $55,047,000 after purchasing an additional 68,224 shares in the last quarter. Pacific Wealth Strategies Group Inc. bought a new position in shares of Snowflake during the second quarter valued at $210,000. Finally, Wellington Shields Capital Management LLC lifted its holdings in shares of Snowflake by 100.0% during the second quarter. Wellington Shields Capital Management LLC now owns 400 shares of the company’s stock valued at $90,000 after purchasing an additional 200 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Down 4.2%

Snowflake stock opened at $265.59 on Wednesday. The stock has a market cap of $89.98 billion, a PE ratio of -64.00 and a beta of 1.23. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. Snowflake Inc. has a one year low of $113.65 and a one year high of $280.67. The stock has a fifty day moving average of $238.30 and a 200 day moving average of $212.94.

Snowflake (NYSE:SNOW – Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The company had revenue of $1.14 billion during 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%.Snowflake’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. As a group, sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Scotiabank upped their price target on Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Mizuho upped their price target on Snowflake from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Needham & Company LLC upped their price target on Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Robert W. Baird upped their price objective on Snowflake from $215.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Finally, Cantor Fitzgerald upped their price objective on Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $258.95.

Read Our Latest Stock Analysis on Snowflake

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 2,976 shares of the company’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $236.01, for a total value of $702,365.76. Following the completion of the sale, the director owned 34,436 shares in the company, valued at $8,127,240.36. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 880,647 shares of company stock worth $203,522,973. Corporate insiders own 6.80% of the company’s stock.

Snowflake Company Profile

(Free Report)

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.

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