Diversify Advisory Services LLC Has $13.93 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Diversify Advisory Services LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 13.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,885 shares of the company's stock after selling 13,399 shares during the period. Snowflake accounts for approximately 0.9% of Diversify Advisory Services LLC's portfolio, making the stock its 21st biggest position. Diversify Advisory Services LLC's holdings in Snowflake were worth $13,932,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Snowflake in the fourth quarter worth about $988,950,000. GQG Partners LLC acquired a new stake in shares of Snowflake in the fourth quarter worth about $750,572,000. FMR LLC lifted its position in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after buying an additional 2,805,425 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after buying an additional 2,200,406 shares during the last quarter. Finally, Groupama Asset Managment lifted its position in shares of Snowflake by 930,132.6% in the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock worth $308,820,000 after buying an additional 1,999,785 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 400,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the transaction, the chief financial officer directly owned 292,610 shares of the company's stock, valued at $60,090,389.60. The trade was a 57.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 424,852 shares of the business's 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 in the company, valued at $36,303,960.45. The trade was a 71.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,718,258 shares of company stock valued at $589,762,906 in the last three months. 6.80% of the stock is owned by corporate insiders.

Snowflake Price Performance

Shares of SNOW traded up $5.01 on Friday, hitting $216.59. The company's stock had a trading volume of 1,014,306 shares, compared to its average volume of 5,949,282. The company has a market capitalization of $72.31 billion, a PE ratio of -51.38 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick 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 company has a 50 day moving average price of $206.90 and a 200 day moving average price of $178.46.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. Snowflake's revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. On average, research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on SNOW shares. Stifel Nicolaus boosted their price target on Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada boosted their price target on Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Hsbc Global Res lowered Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. JMP Securities lifted their price objective on Snowflake from $245.00 to $260.00 and gave the stock a "market outperform" rating in a research note on Friday. Finally, Piper Sandler reiterated 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and an average target price of $226.73.

Snowflake Company 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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