Raymond James & Associates owns $22.04 million in Snowflake Inc. (NYSE: SNOW)

VaselineAugust 23, 2024

0 4 minutes read

Raymond James & Associates reduced its position in Snowflake Inc. (NYSE:SNOW – Free Report) by 11.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,168 shares of the company’s stock after selling 20,445 shares during the period. Raymond James & Associates’ holdings in Snowflake were worth $22,042,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have recently modified their holdings of the company. OFI Invest Asset Management boosted its holdings in Snowflake by 441.5% during the second quarter. OFI Invest Asset Management now owns 1,083 shares of the company’s stock worth $137,000 after buying an additional 883 shares during the last quarter. Hoylecohen LLC boosted its stake in Snowflake by 2.7% in the 2nd quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock worth $589,000 after buying an additional 115 shares in the last quarter. TCW Group Inc. grew its holdings in shares of Snowflake by 2.1% in the second quarter. TCW Group Inc. now owns 360,706 shares of the company’s stock valued at $48,728,000 after acquiring an additional 7,571 shares in the last quarter. E&G Advisors LP boosted its position in shares of Snowflake by 12.1% in the second quarter. E&G Advisors LP now owns 2,403 shares of the company’s stock valued at $325,000 after acquiring an additional 259 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Snowflake by 103.9% in the second quarter. Blue Trust Inc. now owns 524 shares of the company’s stock valued at $71,000 after acquiring an additional 267 shares during the last quarter. 65.10% of shares are owned by institutional investors and hedge funds.

Analysts set new price targets

A number of research analysts have weighed in on the company. TD Cowen cut their price target on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Monday. Macquarie cut their price target on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research note on Monday, July 8th. Barclays reduced their price objective on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Oppenheimer restated an “outperform” rating and issued a $220.00 target price on shares of Snowflake in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $187.03.

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Snowflake stock performance

Shares of NYSE SNOW opened at $135.01 on Thursday. The stock has a market cap of $45.20 billion, a P/E ratio of -48.22 and a beta of 0.85. The stock’s fifty-day moving average is $130.18, and its 200-day moving average is $155.59. Snowflake Inc. it has a 52-week low of $107.93 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The firm had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Equities research analysts forecast that Snowflake Inc. will post -2.31 earnings per share for the current year.

Indoor activity

In related 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 sale, the executive vice president now owns 718,773 shares in the company, valued at approximately $86,252,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Emily Ho sold 6,500 shares of Snowflake stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the transaction, the chief accounting officer now owns 36,076 shares in the company, valued at approximately $5,712,995.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 534,178 shares of company stock worth $66,520,575. 7.80% of shares are currently owned by corporate insiders.

About the snowflake

(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 generate meaningful business insights, build data-driven applications and share data and data products, and apply artificial intelligence (AI) for solving business problems. .