Alpha Cubed Investments LLC Invests $1.73 Million in Snowflake Inc. (NYSE:SNOW)

Alpha Cubed Investments LLC bought a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 11,799 shares of the company's stock, valued at approximately $1,725,000.

Several other large investors have also recently made changes to their positions in SNOW. Opal Wealth Advisors LLC acquired a new position in shares of Snowflake during the 1st quarter worth approximately $26,000. CVA Family Office LLC raised its position in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after acquiring an additional 88 shares during the period. West Paces Advisors Inc. acquired a new position in Snowflake during the fourth quarter worth $31,000. Spurstone Advisory Services LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $31,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $31,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on SNOW shares. Barclays restated an "overweight" rating and set a $219.00 price target (up previously from $203.00) on shares of Snowflake in a research report on Thursday, May 22nd. Cantor Fitzgerald upped their target price on shares of Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Bank of America upped their price objective on shares of Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada raised their target price on shares of Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, Mizuho boosted their target price on Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.36.

Insider Buying and Selling

In other news, Director Frank Slootman sold 424,852 shares of Snowflake stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Garrett sold 67,000 shares of Snowflake stock in a transaction 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 sale, the director directly owned 7,428 shares of the company's stock, valued at approximately $1,478,023.44. This trade represents a 90.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,718,258 shares of company stock worth $589,762,906 over the last 90 days. 6.80% of the stock is owned by insiders.

Snowflake Stock Down 3.4%

SNOW stock traded down $7.61 during midday trading on Thursday, hitting $214.29. The company's stock had a trading volume of 4,794,663 shares, compared to its average volume of 6,023,863. The firm has a market capitalization of $71.54 billion, a P/E ratio of -50.90 and a beta of 1.22. The firm has a 50-day simple moving average of $201.70 and a 200-day simple moving average of $176.33. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $226.60. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

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 the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the business posted $0.14 EPS. The business's quarterly revenue was up 25.8% compared to the same quarter last year. As a group, equities analysts forecast 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.