Calamos Advisors LLC Trims Holdings in Snowflake Inc. (NYSE:SNOW)

Calamos Advisors LLC decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,981 shares of the company's stock after selling 4,004 shares during the quarter. Calamos Advisors LLC's holdings in Snowflake were worth $14,175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Snowflake during the first quarter worth $26,000. CVA Family Office LLC increased its stake 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 last quarter. West Paces Advisors Inc. acquired a new stake in Snowflake during the fourth quarter worth $31,000. Spurstone Advisory Services LLC acquired a new stake in Snowflake during the fourth quarter worth $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the completion of the sale, the executive vice president directly owned 547,336 shares of the company's stock, valued at approximately $119,806,377.04. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 1,146 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $217.74, for a total value of $249,530.04. Following the sale, the director directly owned 4,474 shares of the company's stock, valued at $974,168.76. The trade was a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,876,557 shares of company stock worth $403,565,119. Corporate insiders own 6.80% of the company's stock.

Snowflake Stock Up 1.7%

Snowflake stock opened at $221.13 on Friday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $225.68. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $73.83 billion, a P/E ratio of -52.52 and a beta of 1.22. The stock has a 50-day simple moving average of $197.86 and a 200-day simple moving average of $175.10.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share 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 the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.14 EPS. The business's quarterly revenue was up 25.8% on a year-over-year basis. Equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analysts Set New Price Targets

SNOW has been the subject of a number of research reports. Daiwa America raised Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Snowflake in a research note on Thursday, June 5th. BTIG Research reaffirmed a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Robert W. Baird lifted their price objective on Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $215.00 price objective (up from $175.00) on shares of Snowflake in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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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