Advyzon Investment Management LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

Key Points

• Advyzon Investment Management acquired a new position in Snowflake Inc., purchasing 1,465 shares valued around $214,000.
• Snowflake's stock recently saw significant interest from institutional investors, with 65.10% of shares owned by such entities.
• The company reported a 25.8% year-over-year revenue growth, posting $1.04 billion for the quarter and an EPS of $0.24, exceeding analysts' expectations.

Advyzon Investment Management LLC purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,465 shares of the company's stock, valued at approximately $214,000.

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its holdings in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after acquiring an additional 2,200,406 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Snowflake by 8.2% in the first quarter. Baillie Gifford & Co. now owns 2,928,696 shares of the company's stock worth $428,058,000 after acquiring an additional 222,920 shares during the last quarter. Invesco Ltd. lifted its holdings in Snowflake by 406.5% in the fourth quarter. Invesco Ltd. now owns 2,441,112 shares of the company's stock worth $376,932,000 after acquiring an additional 1,959,137 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Snowflake by 16.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,253,476 shares of the company's stock valued at $347,959,000 after buying an additional 317,697 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Down 1.3%

Shares of NYSE:SNOW opened at $205.74 on Wednesday. The stock has a 50 day moving average of $214.04 and a 200 day moving average of $183.36. The company has a market cap of $68.69 billion, a PE ratio of -48.87 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $229.27.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm's revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 EPS. As a group, equities research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price target on Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Jefferies Financial Group boosted their target price on Snowflake from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Cowen reissued a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Bank of America lifted their price objective on shares of Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Snowflake from $210.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $226.73.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 424,852 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was 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 in the company, valued at $36,303,960.45. This represents a 71.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the transaction, the chief financial officer owned 292,610 shares of the company's stock, valued at $60,090,389.60. The trade was a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,014,642 shares of company stock valued at $657,325,186 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

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.

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