Poinciana Advisors Group LLC Acquires New Holdings in Snowflake Inc. (NYSE:SNOW)

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

A number of other large investors also recently modified their holdings of SNOW. Norges Bank acquired a new position in Snowflake during the fourth quarter worth about $988,950,000. GQG Partners LLC purchased a new position in Snowflake during the 4th quarter valued at about $750,572,000. FMR LLC increased its stake in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after buying an additional 2,805,425 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after acquiring an additional 2,200,406 shares during the last quarter. Finally, Groupama Asset Managment lifted its holdings in shares of Snowflake by 930,132.6% during the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock valued at $308,820,000 after buying an additional 1,999,785 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Oppenheimer restated an "outperform" rating on shares of Snowflake in a research note on Tuesday, June 24th. Morgan Stanley started coverage on Snowflake in a report on Tuesday, June 24th. They issued an "overweight" rating and a $262.00 target price for the company. Monness Crespi & Hardt boosted their price target on shares of Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Raymond James Financial reaffirmed an "outperform" rating and issued a $212.00 price target (up from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $205.00 price objective on shares of Snowflake in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $225.36.

Snowflake Stock Down 3.4%

Shares of NYSE SNOW traded down $7.61 during mid-day trading on Thursday, reaching $214.29. The company had a trading volume of 4,794,663 shares, compared to its average volume of 6,024,633. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $226.60. The stock has a fifty day moving average of $201.70 and a two-hundred day moving average of $176.33. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm's revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. As a group, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $221.47, for a total value of $89,252.41. Following the sale, the director directly owned 26,539 shares of the company's stock, valued at approximately $5,877,592.33. This represents a 1.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 1,146 shares of the company's stock in a transaction 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 completion of the transaction, the director owned 4,474 shares in the company, valued at approximately $974,168.76. This represents a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,718,258 shares of company stock worth $589,762,906 over the last quarter. 6.80% of the stock is currently owned by insiders.

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.