Primoris Wealth Advisors LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

Primoris Wealth Advisors LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,890 shares of the company's stock, valued at approximately $1,438,000.

Several other large investors have also recently added to or reduced their stakes in the business. Perpetual Ltd grew its stake in Snowflake by 213.3% during the 1st quarter. Perpetual Ltd now owns 12,026 shares of the company's stock worth $1,758,000 after purchasing an additional 8,187 shares in the last quarter. KG&L Capital Management LLC boosted its stake in shares of Snowflake by 6.1% in the 1st quarter. KG&L Capital Management LLC now owns 13,114 shares of the company's stock valued at $1,917,000 after buying an additional 754 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Snowflake by 973.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 358,566 shares of the company's stock valued at $52,408,000 after buying an additional 325,156 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Snowflake by 413.5% during the first quarter. Sequoia Financial Advisors LLC now owns 17,546 shares of the company's stock worth $2,564,000 after buying an additional 14,129 shares in the last quarter. Finally, TigerOak Management L.L.C. purchased a new stake in shares of Snowflake during the first quarter worth approximately $263,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the transaction, the executive vice president now directly owns 580,632 shares in the company, valued at approximately $97,546,176. This trade represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 622,903 shares of company stock valued at $127,235,701. 6.80% of the stock is owned by corporate insiders.

Snowflake Stock Performance

NYSE:SNOW opened at $221.89 on Friday. 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 firm has a market cap of $74.08 billion, a price-to-earnings ratio of -52.71 and a beta of 1.21. The firm's fifty day moving average price is $189.12 and its 200 day moving average price is $173.05. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $225.68.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business's quarterly revenue was up 25.8% compared to the same quarter last year. On average, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on SNOW shares. Truist Financial boosted their price target on shares of Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Daiwa Capital Markets initiated coverage on shares of Snowflake in a research note on Tuesday, April 1st. They set a "buy" rating and a $210.00 target price for the company. Daiwa America upgraded Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. HSBC downgraded Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $250.00 price objective (up previously from $225.00) on shares of Snowflake in a report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $225.22.

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.

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