Gries Financial LLC Invests $360,000 in Snowflake Inc. (NYSE:SNOW)

Gries Financial LLC bought a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,460 shares of the company's stock, valued at approximately $360,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the first quarter worth approximately $26,000. CVA Family Office LLC lifted its position in Snowflake by 80.0% during the first 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 Snowflake during the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake during the fourth quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC bought a new position in Snowflake during the fourth quarter valued at approximately $31,000. Institutional investors own 65.10% of the company's stock.

Snowflake Stock Down 0.6%

Shares of Snowflake stock opened at $215.54 on Tuesday. The firm's 50 day moving average price is $207.75 and its 200-day moving average price is $179.21. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $226.60. The company has a market cap of $71.96 billion, a P/E ratio of -51.20 and a beta of 1.22.

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

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 100,483 shares of Snowflake stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $223.55, for a total transaction of $22,462,974.65. Following the completion of the sale, the director directly owned 165,507 shares in the company, valued at approximately $36,999,089.85. The trade was a 37.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the sale, the executive vice president owned 547,336 shares of the company's stock, valued at approximately $119,806,377.04. The trade was a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,718,258 shares of company stock worth $589,762,906 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on SNOW. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. UBS Group raised shares of Snowflake from a "neutral" rating to a "buy" rating and upped their target price for the company from $210.00 to $265.00 in a report on Wednesday, June 4th. Scotiabank reaffirmed an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Daiwa America raised shares of Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $212.00 target price (up from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $226.73.

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.

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