IronOak Wealth LLC. Takes Position in Snowflake Inc. (NYSE:SNOW)

IronOak Wealth LLC. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,101 shares of the company's stock, valued at approximately $633,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNOW. Stonebridge Financial Group LLC bought a new position in shares of Snowflake during the fourth quarter valued at $29,000. West Paces Advisors Inc. bought a new position in Snowflake in the fourth quarter valued at about $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake in the fourth quarter valued at about $31,000. Capital A Wealth Management LLC bought a new position in Snowflake in the fourth quarter valued at about $31,000. Finally, Carolinas Wealth Consulting LLC bought a new position in Snowflake in the fourth quarter valued at about $32,000. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the transaction, the executive vice president now directly owns 594,975 shares of the company's stock, valued at approximately $102,186,956.25. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction that occurred 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 owns 292,610 shares of the company's stock, valued at $47,756,878.10. The trade was a 50.62% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 849,779 shares of company stock valued at $158,838,193. Insiders own 7.80% of the company's stock.

Snowflake Trading Up 1.7%

Shares of Snowflake stock traded up $3.38 on Friday, reaching $205.69. The company had a trading volume of 7,073,445 shares, compared to its average volume of 6,465,452. The firm has a market cap of $68.67 billion, a price-to-earnings ratio of -60.68 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm's 50-day moving average price is $162.77 and its two-hundred day moving average price is $165.80. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $209.80.

Snowflake (NYSE:SNOW - Get Free Report) last announced its 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 24.23% and a negative net margin of 33.02%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The company's quarterly revenue was up 25.8% on a year-over-year basis. As a group, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen raised Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Mizuho upped their price target on Snowflake from $205.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Evercore ISI restated an "outperform" rating and issued a $232.00 price target (up previously from $200.00) on shares of Snowflake in a research report on Thursday, May 22nd. Stifel Nicolaus upped their price target on Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Loop Capital set a $220.00 price target on Snowflake and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and an average target price of $217.33.

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.