ORG Wealth Partners LLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

ORG Wealth Partners LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,007 shares of the company's stock, valued at approximately $898,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the first quarter valued at about $26,000. CVA Family Office LLC raised its position in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares during the period. West Paces Advisors Inc. bought a new position in shares of Snowflake in the fourth quarter valued at about $31,000. Spurstone Advisory Services LLC bought a new position in shares of Snowflake in the fourth quarter valued at about $31,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Snowflake in the fourth quarter valued at about $31,000. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Up 1.2%

SNOW opened at $211.89 on Thursday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $214.83. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market capitalization of $70.74 billion, a price-to-earnings ratio of -50.33 and a beta of 1.21. The company's 50 day moving average price is $180.43 and its two-hundred day moving average price is $171.52.

Snowflake (NYSE:SNOW - Get Free Report) last posted 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. 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 for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm posted $0.14 EPS. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 2,975 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $208.00, for a total value of $618,800.00. Following the sale, the executive vice president now directly owns 562,609 shares of the company's stock, valued at approximately $117,022,672. This represents a 0.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now directly owns 26,375 shares in the company, valued at approximately $3,408,968.75. This represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 902,546 shares of company stock valued at $171,188,169 in the last ninety days. 6.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SNOW shares. Stifel Nicolaus upped their price target on shares of Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. UBS Group upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and upped their price target for the company from $210.00 to $265.00 in a research note on Wednesday, June 4th. HSBC downgraded shares of Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Evercore ISI restated a "buy" rating on shares of Snowflake in a research note on Wednesday, June 4th. Finally, Guggenheim restated a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $223.50.

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.

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