6,610 Shares in Snowflake Inc. $SNOW Bought by Argus Investors Counsel Inc.

Key Points

• Argus Investors Counsel Inc. bought a new stake in Snowflake during the first quarter, acquiring 6,610 shares valued at about $997,000.
• Several analysts remain upbeat on Snowflake, with firms including Oppenheimer, JPMorgan, Stifel, and others raising price targets; the consensus rating is Moderate Buy with an average target of $293.53.
• Snowflake’s latest quarterly results topped expectations, with $0.39 EPS on $1.39 billion in revenue, while revenue rose 33.5% year over year. Insiders have also been selling shares recently, including two executives in Rule 10b5-1 transactions.

Argus Investors Counsel Inc. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,610 shares of the company's stock, valued at approximately $997,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Diligent Investors LLC lifted its position in shares of Snowflake by 0.9% in the third quarter. Diligent Investors LLC now owns 4,594 shares of the company's stock worth $1,036,000 after buying an additional 40 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in shares of Snowflake by 10.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 549 shares of the company's stock valued at $120,000 after acquiring an additional 50 shares in the last quarter. HHM Wealth Advisors LLC raised its stake in shares of Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company's stock valued at $33,000 after acquiring an additional 50 shares in the last quarter. United Asset Strategies Inc. lifted its holdings in Snowflake by 1.4% in the 4th quarter. United Asset Strategies Inc. now owns 3,544 shares of the company's stock worth $777,000 after purchasing an additional 50 shares during the last quarter. Finally, Physician Wealth Advisors Inc. lifted its holdings in Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock worth $31,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Buying and Selling

In related news, SVP Vivek Raghunathan sold 3,876 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $240.00, for a total value of $930,240.00. Following the completion of the transaction, the senior vice president directly owned 258,689 shares in the company, valued at approximately $62,085,360. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Christian Kleinerman sold 2,621 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $228.45, for a total value of $598,767.45. Following the completion of the transaction, the executive vice president owned 400,379 shares of the company's stock, valued at $91,466,582.55. The trade was a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 1,748,087 shares of company stock worth $407,831,514. 4.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Oppenheimer lifted their price target on shares of Snowflake from $250.00 to $295.00 and gave the company an "outperform" rating in a research report on Thursday, May 28th. Citizens Jmp reaffirmed a "market outperform" rating and set a $325.00 price objective on shares of Snowflake in a report on Tuesday, May 19th. JPMorgan Chase & Co. raised their target price on shares of Snowflake from $245.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Raymond James Financial reiterated an "outperform" rating and issued a $275.00 target price on shares of Snowflake in a report on Thursday, May 28th. Finally, Stifel Nicolaus boosted their target price on shares of Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and an average target price of $293.53.

Snowflake Price Performance

NYSE:SNOW opened at $259.67 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. The company has a fifty day moving average price of $202.78 and a 200 day moving average price of $190.28. The stock has a market cap of $90.00 billion, a P/E ratio of -73.77 and a beta of 1.35.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business posted $0.24 EPS. The business's quarterly revenue was up 33.5% on a year-over-year basis. Analysts anticipate that Snowflake Inc. will post -1.87 earnings per share for the current year.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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