Apollon Wealth Management LLC Acquires 1,219 Shares of Snowflake Inc. (NYSE:SNOW)

Apollon Wealth Management LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 12.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,666 shares of the company's stock after acquiring an additional 1,219 shares during the quarter. Apollon Wealth Management LLC's holdings in Snowflake were worth $1,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. ORG Wealth Partners LLC bought a new stake in shares of Snowflake during the 1st quarter worth $898,000. Deutsche Bank AG raised its holdings in shares of Snowflake by 26.0% in the 4th quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock worth $142,513,000 after purchasing an additional 190,583 shares during the period. Artemis Investment Management LLP purchased a new position in shares of Snowflake during the 1st quarter valued at $9,090,000. Ardmore Road Asset Management LP purchased a new stake in Snowflake in the 4th quarter worth about $18,529,000. Finally, Sequoia Financial Advisors LLC raised its stake in Snowflake by 413.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 17,546 shares of the company's stock valued at $2,564,000 after acquiring an additional 14,129 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Stock Down 0.5%

Shares of SNOW opened at $211.79 on Thursday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $226.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a 50 day simple moving average of $206.15 and a two-hundred day simple moving average of $178.07. The firm has a market cap of $70.71 billion, a P/E ratio of -50.31 and a beta of 1.22.

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. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the prior year, the company earned $0.14 EPS. The firm's revenue was up 25.8% on a year-over-year basis. On average, analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In other news, Director Teresa Briggs sold 1,146 shares of Snowflake stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $217.74, for a total value of $249,530.04. Following the transaction, the director owned 4,474 shares in the company, valued at approximately $974,168.76. The trade was a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $221.47, for a total value of $89,252.41. Following the sale, the director owned 26,539 shares of the company's stock, valued at $5,877,592.33. This represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,718,258 shares of company stock valued at $589,762,906. Corporate insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group increased their target price on shares of Snowflake from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $250.00 price objective (up from $225.00) on shares of Snowflake in a report on Friday, June 13th. Raymond James Financial reissued an "outperform" rating and set a $212.00 target price (up previously from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. DA Davidson restated a "buy" rating and set a $250.00 target price on shares of Snowflake in a research report on Wednesday, June 4th. Finally, Scotiabank reiterated an "outperform" rating on shares of Snowflake 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 issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $225.36.

Snowflake 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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