Poinciana Advisors Group LLC Buys New Shares in Snowflake Inc. (NYSE:SNOW)

Poinciana Advisors Group LLC bought a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,618 shares of the company's stock, valued at approximately $383,000.

Several other institutional investors have also recently made changes to their positions in the stock. Quotient Wealth Partners LLC raised its holdings in shares of Snowflake by 11.8% in the 1st quarter. Quotient Wealth Partners LLC now owns 1,766 shares of the company's stock worth $258,000 after acquiring an additional 187 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Snowflake by 346.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 9,085 shares of the company's stock worth $1,328,000 after purchasing an additional 7,050 shares in the last quarter. Wealth Advisory Solutions LLC grew its position in Snowflake by 65.4% in the 1st quarter. Wealth Advisory Solutions LLC now owns 21,611 shares of the company's stock worth $3,159,000 after purchasing an additional 8,546 shares in the last quarter. Rehmann Capital Advisory Group grew its position in Snowflake by 4.7% in the 1st quarter. Rehmann Capital Advisory Group now owns 2,020 shares of the company's stock worth $295,000 after purchasing an additional 90 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its position in shares of Snowflake by 5.7% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 12,214 shares of the company's stock valued at $1,785,000 after acquiring an additional 657 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Bank of America upped their price target on shares of Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. KeyCorp restated an "overweight" rating on shares of Snowflake in a research report on Wednesday, June 25th. Stifel Nicolaus increased their target price on shares of Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. JMP Securities reaffirmed a "market outperform" rating and set a $245.00 target price on shares of Snowflake in a report on Wednesday, June 4th. Finally, UBS Group raised shares of Snowflake from a "neutral" rating to a "buy" rating and increased their target price for the company from $210.00 to $265.00 in a report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have given 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $225.36.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 100,483 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $223.55, for a total transaction of $22,462,974.65. Following the completion of the sale, the director directly owned 165,507 shares in the company, valued at approximately $36,999,089.85. The trade was a 37.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 1,146 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total transaction of $249,530.04. Following the sale, the director owned 4,474 shares of the company's stock, valued at $974,168.76. This trade represents a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,718,258 shares of company stock valued at $589,762,906. Insiders own 6.80% of the company's stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $221.61 on Thursday. The company has a 50 day moving average price of $201.70 and a 200-day moving average price of $176.33. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $226.60. The firm has a market capitalization of $73.99 billion, a PE ratio of -52.64 and a beta of 1.22. 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 (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 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 analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.14 earnings per share. The business's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Snowflake 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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