OMNI 360 Wealth Inc. Buys Shares of 2,312 Snowflake Inc. (NYSE:SNOW)

OMNI 360 Wealth Inc. acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,312 shares of the company's stock, valued at approximately $338,000.

Other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Snowflake in the first quarter valued at approximately $26,000. CVA Family Office LLC raised its stake in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after acquiring an additional 88 shares during the period. West Paces Advisors Inc. acquired 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 during the 4th quarter worth $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in Snowflake in the 4th quarter valued at $31,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other news, Director Mark Garrett sold 67,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were 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 directly owned 7,428 shares of the company's stock, valued at approximately $1,478,023.44. This trade represents a 90.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 424,852 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total value of $93,191,286.20. Following the completion of the sale, the director directly owned 165,507 shares in the company, valued at approximately $36,303,960.45. This represents a 71.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,718,258 shares of company stock worth $589,762,906. 6.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNOW has been the topic of several analyst reports. JMP Securities reiterated a "market outperform" rating and set a $245.00 target price on shares of Snowflake in a report on Wednesday, June 4th. UBS Group raised shares of Snowflake from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $210.00 to $265.00 in a research note on Wednesday, June 4th. Citigroup reissued an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Raymond James Financial reiterated an "outperform" rating and issued a $212.00 price target (up previously from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Rosenblatt Securities restated a "buy" rating and set a $205.00 price objective on shares of Snowflake in a report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $225.36.

Snowflake Stock Down 0.7%

Shares of Snowflake stock traded down $1.54 on Friday, hitting $212.88. 1,195,182 shares of the company traded hands, compared to its average volume of 6,007,472. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $226.60. The company has a 50-day moving average price of $202.68 and a 200 day moving average price of $176.69. The company has a market cap of $71.07 billion, a PE ratio of -50.51 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last issued 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. 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 period in the prior year, the company posted $0.14 earnings per share. Snowflake's revenue for the quarter was up 25.8% on a year-over-year basis. Sell-side analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Snowflake Company 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.