6,900 Shares in Snowflake Inc. (NYSE:SNOW) Bought by Consolidated Investment Group LLC

Consolidated Investment Group LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,900 shares of the company's stock, valued at approximately $1,009,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Opal Wealth Advisors LLC purchased a new position in Snowflake in the first quarter valued at $26,000. CVA Family Office LLC increased its holdings in Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after buying an additional 88 shares in the last quarter. West Paces Advisors Inc. purchased a new position in Snowflake in the fourth quarter valued at $31,000. Spurstone Advisory Services LLC purchased a new position in Snowflake in the fourth quarter valued at $31,000. Finally, Capital A Wealth Management LLC purchased a new position in Snowflake in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 5,027 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $199.06, for a total transaction of $1,000,674.62. Following the sale, the chief accounting officer now directly owns 40,608 shares of the company's stock, valued at $8,083,428.48. This represents a 11.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 894,638 shares of company stock worth $169,965,038. 6.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial lifted their price objective on shares of Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Royal Bank Of Canada lifted their price objective on shares of Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. HSBC cut shares of Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Stifel Nicolaus boosted their target price on shares of Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, CICC Research assumed coverage on shares of Snowflake in a research note on Friday. They set an "outperform" rating and a $225.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and an average price target of $223.54.

Snowflake Stock Performance

Shares of SNOW stock opened at $211.84 on Friday. The firm's 50 day moving average price is $183.12 and its 200-day moving average price is $171.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. Snowflake Inc. has a one year low of $107.13 and a one year high of $215.99. The firm has a market cap of $70.73 billion, a P/E ratio of -50.32 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business posted $0.14 EPS. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, equities research analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Snowflake Company Profile

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.

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