Nisa Investment Advisors LLC Acquires 7,050 Shares of Snowflake Inc. (NYSE:SNOW)

Nisa Investment Advisors LLC boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 346.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,085 shares of the company's stock after acquiring an additional 7,050 shares during the quarter. Nisa Investment Advisors LLC's holdings in Snowflake were worth $1,328,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake during the first quarter worth $26,000. CVA Family Office LLC increased its position in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares during the period. West Paces Advisors Inc. acquired a new stake in shares of Snowflake during the fourth quarter worth $31,000. Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake during the fourth quarter worth $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth $31,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. DA Davidson reiterated a "buy" rating and set a $250.00 price objective on shares of Snowflake in a research report on Wednesday, June 4th. Rosenblatt Securities reissued a "buy" rating and set a $205.00 target price on shares of Snowflake in a research note on Monday, May 19th. Piper Sandler reissued an "overweight" rating and set a $215.00 target price (up from $175.00) on shares of Snowflake in a research note on Wednesday, May 21st. Stifel Nicolaus increased their target price on shares of Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, Evercore ISI reissued a "buy" rating on shares of Snowflake in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $225.36.

Snowflake Stock Performance

NYSE SNOW opened at $213.22 on Tuesday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $226.60. The company has a 50-day simple moving average of $204.44 and a 200 day simple moving average of $177.59. 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 company has a market capitalization of $71.19 billion, a PE ratio of -50.65 and a beta of 1.22.

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

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 400,000 shares of Snowflake stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the transaction, the chief financial officer owned 292,610 shares in the company, valued at $60,090,389.60. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Garrett sold 67,000 shares of Snowflake stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $198.98, for a total transaction of $13,331,660.00. Following the completion of the transaction, the director owned 7,428 shares of the company's stock, valued at $1,478,023.44. The trade was a 90.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,718,258 shares of company stock worth $589,762,906 over the last quarter. Corporate insiders own 6.80% of the company's stock.

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.

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