Snowflake Inc. (NYSE:SNOW) Shares Purchased by Dakota Wealth Management

Dakota Wealth Management increased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,980 shares of the company's stock after acquiring an additional 1,830 shares during the period. Dakota Wealth Management's holdings in Snowflake were worth $3,797,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after acquiring an additional 29,320 shares during the last quarter. Moors & Cabot Inc. acquired a new stake in Snowflake during the 4th quarter worth approximately $285,000. Avantax Advisory Services Inc. lifted its position in Snowflake by 23.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 10,923 shares of the company's stock worth $1,687,000 after acquiring an additional 2,106 shares during the period. Commonwealth Equity Services LLC lifted its position in Snowflake by 4.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 67,150 shares of the company's stock worth $10,369,000 after acquiring an additional 3,155 shares during the period. Finally, Natixis Advisors LLC acquired a new stake in Snowflake during the 4th quarter worth approximately $1,837,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Cantor Fitzgerald increased their price objective on Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. JMP Securities reaffirmed a "market outperform" rating and set a $245.00 price objective on shares of Snowflake in a research report on Wednesday, June 4th. Piper Sandler reaffirmed an "overweight" rating and set a $215.00 price objective (up from $175.00) on shares of Snowflake in a research report on Wednesday, May 21st. HSBC cut Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Robert W. Baird raised their price target on Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $225.36.

Snowflake Stock Down 0.6%

Shares of NYSE:SNOW traded down $1.33 during trading on Wednesday, hitting $211.46. The company's stock had a trading volume of 1,193,380 shares, compared to its average volume of 5,967,271. 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 Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $226.60. The stock's 50-day moving average price is $205.33 and its two-hundred day moving average price is $177.84. The company has a market capitalization of $70.60 billion, a PE ratio of -50.23 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 for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. Snowflake's quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. As a group, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity

In related news, Director Frank Slootman sold 424,852 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total value of $93,191,286.20. Following the completion of the transaction, the director directly owned 165,507 shares of the company's stock, valued at $36,303,960.45. This represents a 71.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark Garrett sold 67,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $198.98, for a total value of $13,331,660.00. Following the completion of the transaction, the director directly owned 7,428 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 2,718,258 shares of company stock valued at $589,762,906. 6.80% of the stock is currently owned by insiders.

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.