Raymond James Financial Services Advisors Inc. Has $10.94 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Posted by on Jul 1st, 2023

Raymond James Financial Services Advisors Inc. increased its position in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 9.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,894 shares of the company’s stock after acquiring an additional 5,999 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Snowflake were worth $10,938,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Metis Global Partners LLC boosted its position in Snowflake by 106.7% in the fourth quarter. Metis Global Partners LLC now owns 2,776 shares of the company’s stock valued at $398,000 after buying an additional 1,433 shares in the last quarter. Belpointe Asset Management LLC boosted its position in Snowflake by 7.8% in the fourth quarter. Belpointe Asset Management LLC now owns 2,159 shares of the company’s stock valued at $296,000 after buying an additional 156 shares in the last quarter. Kistler Tiffany Companies LLC boosted its position in Snowflake by 166.8% in the fourth quarter. Kistler Tiffany Companies LLC now owns 1,905 shares of the company’s stock valued at $273,000 after buying an additional 1,191 shares in the last quarter. Mayflower Financial Advisors LLC acquired a new stake in Snowflake in the first quarter valued at approximately $207,000. Finally, First Trust Advisors LP boosted its position in Snowflake by 3.6% in the fourth quarter. First Trust Advisors LP now owns 1,060,292 shares of the company’s stock valued at $152,170,000 after buying an additional 36,913 shares in the last quarter. Institutional investors and hedge funds own 63.55% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $175.99 on Friday. The stock has a market capitalization of $57.36 billion, a P/E ratio of -65.91 and a beta of 0.74. The company has a 50-day moving average price of $167.64 and a 200-day moving average price of $153.32. Snowflake Inc. has a 1 year low of $119.27 and a 1 year high of $205.66.

Snowflake (NYSE:SNOW – Free Report) last released its quarterly earnings results on Wednesday, May 24th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.24). Snowflake had a negative return on equity of 14.81% and a negative net margin of 37.78%. The firm had revenue of $623.60 million for the quarter, compared to analysts’ expectations of $607.57 million. As a group, equities research analysts anticipate that Snowflake Inc. will post -1.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on SNOW shares. StockNews.com started coverage on shares of Snowflake in a report on Thursday, May 18th. They set a “sell” rating on the stock. Jefferies Financial Group lifted their price target on shares of Snowflake from $180.00 to $205.00 in a report on Friday. Barclays lifted their price target on shares of Snowflake from $165.00 to $203.00 in a report on Thursday. JMP Securities cut their price target on shares of Snowflake from $215.00 to $200.00 in a report on Thursday, May 25th. Finally, William Blair started coverage on shares of Snowflake in a report on Wednesday. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $188.80.

Insider Buying and Selling

In related news, CEO Frank Slootman sold 1,761 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $177.47, for a total transaction of $312,524.67. Following the transaction, the chief executive officer now directly owns 185,683 shares in the company, valued at $32,953,162.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Snowflake news, Director John Dennis Mcmahon sold 1,000 shares of the business’s stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $144.59, for a total value of $144,590.00. Following the transaction, the director now directly owns 153,902 shares in the company, valued at $22,252,690.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frank Slootman sold 1,761 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $177.47, for a total transaction of $312,524.67. Following the completion of the transaction, the chief executive officer now owns 185,683 shares in the company, valued at $32,953,162.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,586 shares of company stock worth $14,290,224. 8.30% of the stock is owned by insiders.

About 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 drive meaningful business insights, build data-driven applications, and share data and data products.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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