Eagle Strategies LLC Grows Stake in Snowflake Inc. (NYSE:SNOW)

Eagle Strategies LLC raised its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 127.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,923 shares of the company's stock after purchasing an additional 7,239 shares during the quarter. Eagle Strategies LLC's holdings in Snowflake were worth $1,889,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SNOW. Opal Wealth Advisors LLC purchased a new position in Snowflake in the first quarter valued at about $26,000. CVA Family Office LLC increased its position in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after acquiring an additional 88 shares during the last quarter. West Paces Advisors Inc. purchased a new stake in shares of Snowflake during the fourth quarter worth about $31,000. Spurstone Advisory Services LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $31,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

SNOW opened at $211.84 on Monday. The firm has a market cap of $70.73 billion, a PE ratio of -50.32 and a beta of 1.21. 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 has a fifty day simple moving average of $183.12 and a 200-day simple moving average of $171.86. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $215.99.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company posted $0.14 EPS. The company's revenue was up 25.8% compared to the same quarter last year. As a group, equities analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares of the company's stock, valued at $3,408,968.75. This represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 894,638 shares of company stock valued at $169,965,038 in the last three months. 6.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Bank of America lifted their target price on Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Daiwa America raised Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 target price on shares of Snowflake in a research report on Thursday, June 5th. Cowen reissued a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Stifel Nicolaus boosted their price objective on Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $223.54.

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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