Sierra Capital LLC Buys New Shares in Snowflake Inc. (NYSE:SNOW)

Sierra Capital LLC purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,555 shares of the company's stock, valued at approximately $373,000.

A number of other hedge funds have also bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new stake in Snowflake during the first quarter valued at $26,000. CVA Family Office LLC lifted its stake in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares in the last quarter. West Paces Advisors Inc. purchased a new position in shares of Snowflake in the fourth quarter worth about $31,000. Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Snowflake during the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Stock Down 1.0%

Snowflake stock traded down $2.32 during midday trading on Tuesday, hitting $223.47. 3,411,820 shares of the stock were exchanged, compared to its average volume of 6,038,143. The firm has a market cap of $74.61 billion, a P/E ratio of -53.08 and a beta of 1.22. 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 $226.95. The company has a 50 day moving average price of $199.19 and a two-hundred day moving average price of $175.68.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $0.14 EPS. The firm's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, sell-side analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the topic of a number of research analyst reports. Hsbc Global Res lowered Snowflake from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Daiwa America upgraded shares of Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. HSBC downgraded shares of Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Scotiabank reaffirmed an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Stifel Nicolaus increased their price target on shares of Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and an average target price of $225.36.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 424,852 shares of Snowflake stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $219.35, for a total value of $93,191,286.20. Following the completion of the transaction, the director directly owned 165,507 shares of the company's stock, valued at approximately $36,303,960.45. The trade was a 71.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Garrett sold 67,000 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $198.98, for a total transaction of $13,331,660.00. Following the transaction, the director directly owned 7,428 shares of the company's stock, valued at $1,478,023.44. The trade was a 90.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,294,062 shares of company stock valued at $495,050,427. Corporate insiders own 6.80% of the company's stock.

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.