Premier Path Wealth Partners LLC Invests $203,000 in Snowflake Inc. (NYSE:SNOW)

Premier Path Wealth Partners LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,390 shares of the company's stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Snowflake during the fourth quarter valued at about $988,950,000. FMR LLC raised its holdings 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 last quarter. GQG Partners LLC acquired a new stake in Snowflake during the 4th quarter worth approximately $750,572,000. Geode Capital Management LLC boosted its position in Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock worth $642,742,000 after buying an additional 15,314 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Snowflake by 124.4% during the 4th 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. Institutional investors own 65.10% of the company's stock.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent research reports. Hsbc Global Res lowered shares of Snowflake from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Evercore ISI reaffirmed a "buy" rating on shares of Snowflake in a research report on Wednesday, June 4th. 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. JPMorgan Chase & Co. upped their price target on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Finally, Needham & Company LLC restated a "buy" rating and set a $230.00 price objective on shares of Snowflake in a research report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $223.54.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the business's 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 approximately $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the completion of the sale, the executive vice president now owns 590,632 shares of the company's stock, valued at approximately $94,501,120. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 894,638 shares of company stock valued at $169,965,038 over the last 90 days. Insiders own 6.80% of the company's stock.

Snowflake Stock Down 0.1%

Shares of NYSE SNOW traded down $0.24 during mid-day trading on Friday, reaching $211.84. 4,238,099 shares of the company's stock traded hands, compared to its average volume of 6,182,683. 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 business has a 50-day simple moving average of $183.12 and a 200 day simple moving average of $171.94. The stock has a market cap of $70.73 billion, a P/E ratio of -50.32 and a beta of 1.21. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $215.99.

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