Diversify Wealth Management LLC Acquires Shares of 25,059 Snowflake Inc. (NYSE:SNOW)

Diversify Wealth Management LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 25,059 shares of the company's stock, valued at approximately $4,018,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Snowflake in the 1st quarter valued at $26,000. CVA Family Office LLC grew its stake in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares during the period. West Paces Advisors Inc. bought a new position in shares of Snowflake during the 4th quarter worth $31,000. Spurstone Advisory Services LLC bought a new position in shares of Snowflake during the 4th quarter worth $31,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Snowflake during the 4th quarter worth $31,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mark Garrett sold 67,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $198.98, for a total transaction of $13,331,660.00. Following the sale, the director directly owned 7,428 shares of the company's stock, valued at $1,478,023.44. This represents a 90.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Scarpelli sold 400,000 shares of the company'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 sale, the chief financial officer directly owned 292,610 shares in the company, valued at $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. In the last three months, insiders have sold 2,718,258 shares of company stock valued at $589,762,906. Corporate insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Daiwa Capital Markets assumed coverage on shares of Snowflake in a report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price target on the stock. Monness Crespi & Hardt raised their target price on shares of Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Wells Fargo & Company restated an "overweight" rating and issued a $250.00 target price (up previously from $225.00) on shares of Snowflake in a report on Friday, June 13th. Loop Capital lifted their price target on shares of Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $205.00 price target on shares of Snowflake in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $225.36.

Snowflake Stock Performance

Shares of NYSE:SNOW traded down $3.78 during mid-day trading on Friday, reaching $210.64. 3,867,733 shares of the company traded hands, compared to its average volume of 6,007,748. The company's 50 day moving average price is $203.53 and its 200-day moving average price is $177.12. The firm has a market cap of $70.33 billion, a PE ratio of -50.03 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 52 week low of $107.13 and a 52 week high of $226.60.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the firm earned $0.14 EPS. The firm's revenue was up 25.8% compared to the same quarter last year. On average, equities analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.