OMNI 360 Wealth Inc. Makes New $338,000 Investment in Snowflake Inc. (NYSE:SNOW)

OMNI 360 Wealth Inc. acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,312 shares of the company's stock, valued at approximately $338,000.

Several other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in Snowflake during the fourth quarter valued at approximately $988,950,000. GQG Partners LLC purchased a new stake in Snowflake during the fourth quarter valued at approximately $750,572,000. FMR LLC lifted its position in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after acquiring an additional 2,200,406 shares during the last quarter. Finally, Groupama Asset Managment lifted its position in Snowflake by 930,132.6% during the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock valued at $308,820,000 after acquiring an additional 1,999,785 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

SNOW has been the subject of a number of analyst reports. Royal Bank Of Canada increased their target price on shares of Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. KeyCorp reissued an "overweight" rating on shares of Snowflake in a research report on Wednesday, June 25th. Truist Financial upped their price target on shares of Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird upped their price target on shares of Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, Daiwa America upgraded shares of Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $225.36.

Snowflake Price Performance

SNOW traded down $1.87 during trading on Wednesday, reaching $221.64. The company's stock had a trading volume of 854,845 shares, compared to its average volume of 6,023,971. 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 firm has a fifty day simple moving average of $200.46 and a two-hundred day simple moving average of $176.01. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $226.60. The company has a market cap of $74.00 billion, a price-to-earnings ratio of -52.64 and a beta of 1.22.

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

Insider Activity

In other Snowflake news, Director Teresa Briggs sold 1,146 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $217.74, for a total value of $249,530.04. Following the sale, the director owned 4,474 shares of the company's stock, valued at $974,168.76. The trade was a 20.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 178,949 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $221.16, for a total value of $39,576,360.84. Following the completion of the sale, the director directly owned 165,507 shares in the company, valued at approximately $36,603,528.12. The trade was a 51.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,294,062 shares of company stock worth $495,050,427 in the last 90 days. 6.80% of the stock is owned by corporate insiders.

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.