LPL Financial LLC boosted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 18.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 210,033 shares of the company's stock after purchasing an additional 33,387 shares during the period. LPL Financial LLC owned approximately 0.06% of Snowflake worth $30,698,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Snowflake during the first quarter valued at approximately $26,000. CVA Family Office LLC boosted its stake in shares of 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 acquiring an additional 88 shares during the last quarter. West Paces Advisors Inc. purchased a new position in shares of Snowflake during the 4th quarter valued at $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake in the 4th quarter worth $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake in the 4th quarter worth $31,000. 65.10% of the stock is owned by institutional investors.
Insider Activity
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 transaction, the director directly owned 165,507 shares of the company's stock, valued at $36,999,089.85. The trade was a 37.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction, the executive vice president directly owned 547,336 shares in the company, valued at approximately $119,806,377.04. This trade represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,697,855 shares of company stock valued at $586,415,198. 6.80% of the stock is owned by corporate insiders.
Snowflake Stock Performance
NYSE:SNOW traded down $18.43 during trading hours on Friday, reaching $205.07. 8,572,486 shares of the company's stock were exchanged, compared to its average volume of 3,517,346. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $229.27. The firm has a market capitalization of $68.46 billion, a price-to-earnings ratio of -48.71 and a beta of 1.22. 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 50-day moving average of $213.88 and a 200 day moving average of $182.84.
Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the business earned $0.14 earnings per share. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. Research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.
Wall Street Analysts Forecast Growth
SNOW has been the topic of several analyst reports. Piper Sandler reiterated an "overweight" rating and set a $215.00 price target (up from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Truist Financial boosted their price objective on shares of Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Loop Capital raised their price target on shares of Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. DA Davidson reiterated a "buy" rating and issued a $250.00 target price on shares of Snowflake in a research report on Wednesday, June 4th. Finally, HSBC lowered shares of Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Two investment 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $226.73.
Read Our Latest Analysis on Snowflake
Snowflake Profile
(
Free Report)
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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