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

Journey Beyond Wealth LLC bought a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 2,883 shares of the company's stock, valued at approximately $421,000. Snowflake accounts for about 0.4% of Journey Beyond Wealth LLC's investment portfolio, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Westend Capital Management LLC raised its stake in Snowflake by 1.6% during the 1st quarter. Westend Capital Management LLC now owns 69,404 shares of the company's stock worth $10,144,000 after acquiring an additional 1,080 shares during the period. Bordeaux Wealth Advisors LLC boosted its position in shares of Snowflake by 6.2% in the first quarter. Bordeaux Wealth Advisors LLC now owns 3,071 shares of the company's stock worth $449,000 after purchasing an additional 178 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of Snowflake in the first quarter worth $9,090,000. Diversified Trust Co raised its position in shares of Snowflake by 13.9% during the 1st quarter. Diversified Trust Co now owns 5,589 shares of the company's stock valued at $817,000 after purchasing an additional 683 shares during the period. Finally, Alta Wealth Advisors LLC lifted its stake in shares of Snowflake by 2.8% during the 1st quarter. Alta Wealth Advisors LLC now owns 2,918 shares of the company's stock valued at $426,000 after buying an additional 80 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Macquarie increased their price target on Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Needham & Company LLC reissued a "buy" rating and set a $230.00 target price on shares of Snowflake in a research note on Thursday, June 5th. Bank of America boosted their price target on Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Cantor Fitzgerald increased their price objective on shares of Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group lifted their price objective on shares of Snowflake from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $225.22.

Snowflake Stock Performance

SNOW stock opened at $222.45 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $225.68. The firm has a market cap of $74.27 billion, a price-to-earnings ratio of -52.84 and a beta of 1.21. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a 50-day simple moving average of $190.70 and a two-hundred day simple moving average of $173.42.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. Snowflake's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the sale, the executive vice president now owns 590,632 shares of the company's stock, valued at approximately $94,501,120. The trade was a 1.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of the firm'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 transaction, the director now directly owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This represents a 1.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 622,903 shares of company stock worth $127,235,701. 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.

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