Cerity Partners LLC Grows Position in Snowflake Inc. (NYSE:SNOW)

Cerity Partners LLC boosted its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 62.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,293 shares of the company's stock after purchasing an additional 39,040 shares during the period. Cerity Partners LLC's holdings in Snowflake were worth $14,805,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Alps Advisors Inc. increased its stake in Snowflake by 0.6% in the 1st quarter. Alps Advisors Inc. now owns 18,456 shares of the company's stock worth $2,698,000 after acquiring an additional 106 shares during the last quarter. Allworth Financial LP increased its position in shares of Snowflake by 3.7% during the 1st quarter. Allworth Financial LP now owns 13,989 shares of the company's stock valued at $2,219,000 after purchasing an additional 502 shares during the last quarter. Poinciana Advisors Group LLC bought a new position in shares of Snowflake during the 1st quarter valued at approximately $383,000. Quotient Wealth Partners LLC boosted its holdings in Snowflake by 11.8% during the 1st quarter. Quotient Wealth Partners LLC now owns 1,766 shares of the company's stock valued at $258,000 after acquiring an additional 187 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Snowflake by 346.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 9,085 shares of the company's stock valued at $1,328,000 after acquiring an additional 7,050 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 424,852 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $219.35, for a total value of $93,191,286.20. Following the sale, the director owned 165,507 shares of the company's stock, valued at $36,303,960.45. The trade was a 71.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 400,000 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $60,090,389.60. This trade represents a 57.75% decrease in their ownership of the stock. 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 in the last quarter. Insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SNOW. Piper Sandler reiterated an "overweight" rating and issued a $215.00 target price (up from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Rosenblatt Securities reissued a "buy" rating and issued a $205.00 price objective on shares of Snowflake in a report on Monday, May 19th. Wells Fargo & Company reissued 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. JPMorgan Chase & Co. raised their target price on Snowflake from $210.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, May 22nd. Finally, Truist Financial increased their price target on Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.36.

Snowflake Trading Down 1.8%

NYSE SNOW opened at $210.64 on Monday. The firm's 50 day moving average price is $203.53 and its two-hundred day moving average price is $177.21. The stock has a market cap of $70.32 billion, a price-to-earnings ratio of -50.03 and a beta of 1.22. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $226.60. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last released 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 net margin of 36.43% and a negative return on equity of 37.75%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business earned $0.14 EPS. Snowflake's quarterly revenue was up 25.8% compared to the same quarter last year. Equities analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

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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