Dynamic Advisor Solutions LLC Makes New $377,000 Investment in Snowflake Inc. (NYSE:SNOW)

Dynamic Advisor Solutions LLC bought a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,581 shares of the company's stock, valued at approximately $377,000.

Several other large investors have also recently added to or reduced their stakes in SNOW. Norges Bank acquired a new position in shares of Snowflake during the fourth quarter valued at $988,950,000. GQG Partners LLC acquired a new position in shares of Snowflake during the fourth quarter valued at $750,572,000. FMR LLC increased its holdings in shares of Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Snowflake by 124.4% during 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 acquiring an additional 2,200,406 shares during the period. Finally, Groupama Asset Managment grew its holdings in Snowflake by 930,132.6% during the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock worth $308,820,000 after acquiring an additional 1,999,785 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $211.89 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The business's 50 day moving average is $181.78 and its two-hundred day moving average is $171.80. The company has a market cap of $70.74 billion, a P/E ratio of -50.33 and a beta of 1.21. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $214.83.

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 analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations 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 business posted $0.14 earnings per share. On average, equities analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SNOW. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Evercore ISI reiterated a "buy" rating on shares of Snowflake in a research report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price target on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Wall Street Zen upgraded Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $223.50.

Insider Activity

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Scarpelli sold 400,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 894,638 shares of company stock worth $169,965,038. Company insiders own 6.80% of the company's stock.

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.

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.