3,301 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Allegiance Financial Group Advisory Services LLC

Allegiance Financial Group Advisory Services LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,301 shares of the company's stock, valued at approximately $482,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Opal Wealth Advisors LLC purchased a new stake in shares of Snowflake in the first quarter valued at about $26,000. CVA Family Office LLC boosted its holdings in shares of 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 acquiring an additional 88 shares in the last quarter. West Paces Advisors Inc. purchased a new stake in shares of Snowflake in the fourth quarter valued at about $31,000. Spurstone Advisory Services LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at about $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at about $31,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction 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 approximately $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Garrett sold 67,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was 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. This trade represents a 90.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,718,258 shares of company stock valued at $589,762,906 over the last 90 days. Insiders own 6.80% of the company's stock.

Snowflake Trading Up 2.4%

Shares of NYSE:SNOW traded up $5.16 during trading on Friday, reaching $216.74. The stock had a trading volume of 3,383,192 shares, compared to its average volume of 5,966,638. The business has a fifty day moving average price of $207.75 and a 200-day moving average price of $178.89. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market cap of $72.36 billion, a P/E ratio of -51.48 and a beta of 1.22. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $226.60.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SNOW. HSBC downgraded shares of Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Royal Bank Of Canada lifted their target price on shares of Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Evercore ISI reaffirmed a "buy" rating on shares of Snowflake in a report on Wednesday, June 4th. Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Barclays reissued an "overweight" rating and set a $219.00 price objective (up previously from $203.00) on shares of Snowflake in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.73.

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.