Poinciana Advisors Group LLC Invests $383,000 in Snowflake Inc. (NYSE:SNOW)

Poinciana Advisors Group LLC purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,618 shares of the company's stock, valued at approximately $383,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Snowflake during the 4th quarter valued at approximately $8,321,000. PNC Financial Services Group Inc. lifted its position in shares of Snowflake by 2.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,715 shares of the company's stock valued at $2,581,000 after buying an additional 465 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Snowflake by 21.8% during the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after buying an additional 74 shares in the last quarter. Finally, Personal CFO Solutions LLC purchased a new position in shares of Snowflake during the 4th quarter valued at approximately $216,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Activity at Snowflake

In related news, Director Mark Garrett sold 67,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was 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 in the company, valued at $1,478,023.44. This trade represents a 90.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 424,852 shares of the firm's stock in a transaction dated 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 transaction, the director owned 165,507 shares of the company's stock, valued at $36,303,960.45. This trade represents a 71.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,718,258 shares of company stock worth $589,762,906 in the last three months. 6.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNOW. Needham & Company LLC reiterated a "buy" rating and set a $230.00 target price on shares of Snowflake in a research report on Thursday, June 5th. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Morgan Stanley began coverage on Snowflake in a research report on Tuesday, June 24th. They set an "overweight" rating and a $262.00 target price on the stock. Royal Bank Of Canada increased their target price on Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, CICC Research started coverage on Snowflake in a report on Friday, June 20th. They issued an "outperform" rating and a $225.00 price objective on the stock. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.36.

Snowflake Trading Down 1.3%

Shares of NYSE:SNOW traded down $2.78 during midday trading on Friday, reaching $211.64. 2,173,401 shares of the company's stock were exchanged, compared to its average volume of 6,009,851. The firm's 50 day simple moving average is $202.68 and its two-hundred day simple moving average is $176.69. 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 stock has a market cap of $70.66 billion, a price-to-earnings ratio of -50.29 and a beta of 1.22. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $226.60.

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