CreativeOne Wealth LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,807 shares of the company's stock, valued at approximately $264,000.
Other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Snowflake in the 1st quarter valued at approximately $26,000. CVA Family Office LLC boosted its holdings in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. Spurstone Advisory Services LLC purchased a new stake in Snowflake in the 4th quarter valued at approximately $31,000. Capital A Wealth Management LLC purchased a new stake in Snowflake in the 4th quarter valued at approximately $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in Snowflake in the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 65.10% of the company's stock.
Snowflake Trading Down 2.1%
Shares of Snowflake stock opened at $233.62 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $249.99. The company has a market capitalization of $78.00 billion, a P/E ratio of -56.29 and a beta of 1.22. The business has a 50 day moving average price of $212.12 and a 200 day moving average price of $186.53.
Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative return on equity of 41.42% and a negative net margin of 33.53%.The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm posted $0.18 EPS. The company's quarterly revenue was up 31.8% compared to the same quarter last year. Sell-side analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.
Insider Activity
In related news, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the transaction, the director directly owned 165,507 shares in the company, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 3,216,909 shares of company stock worth $717,287,181. Insiders own 6.80% of the company's stock.
Wall Street Analyst Weigh In
SNOW has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on Snowflake from $215.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Stifel Nicolaus lifted their price objective on Snowflake from $220.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Scotiabank lifted their price objective on Snowflake from $230.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Loop Capital lifted their price target on shares of Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Morgan Stanley lifted their price target on shares of Snowflake from $262.00 to $272.00 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 assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $255.53.
Get Our Latest Stock Report on SNOW
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.
See Also
Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).
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