LJI Wealth Management LLC Acquires New Position in Snowflake Inc. (NYSE:SNOW)

LJI Wealth Management LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,300 shares of the company's stock, valued at approximately $775,000.

Other large investors have also recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in Snowflake in the 1st quarter valued at approximately $898,000. Deutsche Bank AG boosted its stake in shares of Snowflake by 26.0% during the fourth quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock worth $142,513,000 after buying an additional 190,583 shares during the period. Artemis Investment Management LLP acquired a new position in shares of Snowflake in the first quarter valued at approximately $9,090,000. Ardmore Road Asset Management LP purchased a new position in Snowflake during the fourth quarter worth about $18,529,000. Finally, Sequoia Financial Advisors LLC lifted its position in Snowflake by 413.5% in the first quarter. Sequoia Financial Advisors LLC now owns 17,546 shares of the company's stock valued at $2,564,000 after purchasing an additional 14,129 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $218.89, for a total value of $2,188,900.00. Following the completion of the transaction, the executive vice president directly owned 547,336 shares in the company, valued at approximately $119,806,377.04. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $221.47, for a total transaction of $89,252.41. Following the transaction, the director owned 26,539 shares of the company's stock, valued at approximately $5,877,592.33. This represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,718,258 shares of company stock valued at $589,762,906 in the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Trading Up 1.1%

Shares of Snowflake stock traded up $2.38 during trading on Monday, hitting $213.22. The stock had a trading volume of 2,862,892 shares, compared to its average volume of 5,280,263. 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 company has a market capitalization of $71.19 billion, a PE ratio of -50.65 and a beta of 1.22. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $226.60. The stock has a 50 day simple moving average of $203.53 and a 200 day simple moving average of $177.21.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) 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 firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business earned $0.14 EPS. The business's revenue for the quarter was up 25.8% on a year-over-year basis. On average, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SNOW has been the topic of several research analyst reports. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Bank of America lifted their target price on shares of Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Scotiabank reiterated an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Robert W. Baird raised their price objective on shares of Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $245.00 target price on shares of Snowflake in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $225.36.

About Snowflake

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.