Integrated Wealth Concepts LLC Grows Stock Holdings in Snowflake Inc. $SNOW

Integrated Wealth Concepts LLC grew its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 17.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,712 shares of the company's stock after purchasing an additional 2,177 shares during the period. Integrated Wealth Concepts LLC's holdings in Snowflake were worth $2,150,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Snowflake in the first quarter valued at about $26,000. CVA Family Office LLC grew its position in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares during the period. Spurstone Advisory Services LLC acquired a new stake in Snowflake during the 4th quarter worth about $31,000. Capital A Wealth Management LLC acquired a new stake in Snowflake during the 4th quarter worth about $31,000. Finally, Carolinas Wealth Consulting LLC acquired a new stake in Snowflake during the 4th quarter worth about $32,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNOW has been the topic of several analyst reports. Sanford C. Bernstein increased their price target on Snowflake from $191.00 to $221.00 and gave the stock a "market perform" rating in a research report on Thursday, August 28th. Rosenblatt Securities increased their price target on Snowflake from $210.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Hsbc Global Res downgraded Snowflake from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. KeyCorp increased their price target on Snowflake from $250.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Finally, Truist Financial increased their price target on Snowflake from $235.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and an average price target of $255.53.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 710,083 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the transaction, the director directly owned 165,507 shares of the company's stock, valued at approximately $38,144,398.29. This trade represents a 81.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 3,224,502 shares of company stock valued at $719,801,806. Company insiders own 6.80% of the company's stock.

Snowflake Price Performance

Snowflake stock traded down $1.08 during midday trading on Tuesday, reaching $225.44. The company had a trading volume of 3,930,665 shares, compared to its average volume of 7,460,893. The company has a market capitalization of $75.27 billion, a P/E ratio of -54.32 and a beta of 1.22. Snowflake Inc. has a 12-month low of $108.13 and a 12-month high of $249.99. The firm's fifty day simple moving average is $212.58 and its 200-day simple moving average is $187.91. 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 (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 41.42%. Snowflake's quarterly revenue was up 31.8% compared to the same quarter last year. During the same period last year, the company posted $0.18 EPS. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

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.