Parisi Gray Wealth Management Takes $409,000 Position in Snowflake Inc. (NYSE:SNOW)

Parisi Gray Wealth Management purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,801 shares of the company's stock, valued at approximately $409,000.

Other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in Snowflake during the fourth quarter valued at approximately $29,000. West Paces Advisors Inc. purchased a new position in shares of Snowflake in the fourth quarter worth $31,000. Spurstone Advisory Services LLC purchased a new position in shares of Snowflake in the fourth quarter worth $31,000. Capital A Wealth Management LLC purchased a new position in shares of Snowflake in the fourth quarter worth $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in shares of Snowflake in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. This represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 3,765 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total transaction of $586,172.85. Following the transaction, the executive vice president now owns 616,602 shares in the company, valued at approximately $95,998,765.38. The trade was a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 898,052 shares of company stock worth $169,679,365 in the last three months. Corporate insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Evercore ISI reissued a "buy" rating on shares of Snowflake in a report on Wednesday, June 4th. Monness Crespi & Hardt boosted their target price on shares of Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Royal Bank of Canada boosted their target price on shares of Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Needham & Company LLC reissued a "buy" rating and issued a $230.00 target price on shares of Snowflake in a report on Thursday, June 5th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $225.00 target price (up previously from $200.00) on shares of Snowflake in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $222.81.

Snowflake Trading Down 1.2%

SNOW stock traded down $2.63 during trading on Tuesday, hitting $208.23. The company had a trading volume of 3,595,580 shares, compared to its average volume of 6,316,473. The firm has a market capitalization of $69.52 billion, a P/E ratio of -61.42 and a beta of 1.21. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $214.83. The company has a 50 day simple moving average of $170.50 and a 200-day simple moving average of $169.72. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $0.14 EPS. The firm's revenue was up 25.8% compared to the same quarter last year. As a group, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.