Calamos Wealth Management LLC Has $8.27 Million Position in Snowflake Inc. (NYSE:SNOW)

Calamos Wealth Management LLC lessened its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,560 shares of the company's stock after selling 16,052 shares during the period. Calamos Wealth Management LLC's holdings in Snowflake were worth $8,267,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in shares of Snowflake in the 1st quarter worth approximately $26,000. CVA Family Office LLC raised its stake 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 purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. bought a new position in Snowflake in the fourth quarter worth $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake in the fourth quarter worth $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in Snowflake during the fourth quarter worth $31,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SNOW shares. Barclays reissued an "overweight" rating and issued a $219.00 target price (up previously from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. Cowen reiterated a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. BTIG Research reissued a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Robert W. Baird boosted their price target on Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald increased their price objective on Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Two research 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.36.

Insiders Place Their Bets

In other Snowflake news, CAO Emily Ho sold 1,544 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $220.98, for a total transaction of $341,193.12. Following the completion of the transaction, the chief accounting officer owned 35,100 shares in the company, valued at approximately $7,756,398. This represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Teresa Briggs sold 1,146 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total value of $249,530.04. Following the completion of the sale, the director owned 4,474 shares in the company, valued at approximately $974,168.76. This trade represents a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,876,557 shares of company stock worth $403,565,119 in the last ninety days. 6.80% of the stock is owned by insiders.

Snowflake Trading Up 1.7%

NYSE:SNOW opened at $221.13 on Friday. 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 business's 50-day simple moving average is $196.60 and its 200-day simple moving average is $174.76. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $225.68. The stock has a market capitalization of $73.83 billion, a PE ratio of -52.52 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results 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. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The business's revenue was up 25.8% on a year-over-year basis. Sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.