Private Wealth Partners LLC Grows Stake in Snowflake Inc. (NYSE:SNOW)

Private Wealth Partners LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 301.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,905 shares of the company's stock after acquiring an additional 8,190 shares during the period. Private Wealth Partners LLC's holdings in Snowflake were worth $1,594,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in Snowflake in the first quarter worth $26,000. CVA Family Office LLC boosted its position in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares during the period. West Paces Advisors Inc. bought a new position in Snowflake during the fourth quarter worth about $31,000. Spurstone Advisory Services LLC purchased a new position in shares of Snowflake in the fourth quarter worth about $31,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Snowflake in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Trading Up 1.2%

Shares of NYSE SNOW opened at $211.89 on Friday. The firm's 50 day moving average price is $181.78 and its 200-day moving average price is $171.80. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $214.83. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market cap of $70.74 billion, a PE ratio of -50.33 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share 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 company 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 earned $0.14 EPS. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities research analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

SNOW has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their target price on Snowflake from $220.00 to $250.00 and gave the company a "buy" rating in a report on Monday, June 9th. HSBC cut Snowflake from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Oppenheimer boosted their price objective on Snowflake from $225.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Finally, Barclays restated an "overweight" rating and issued a $219.00 price objective (up from $203.00) on shares of Snowflake in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $223.50.

Insider Transactions at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now owns 26,375 shares of the company's stock, valued at $3,408,968.75. This represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 7,294 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $208.00, for a total transaction of $1,517,152.00. Following the transaction, the director now owns 170,718 shares of the company's stock, valued at $35,509,344. This trade represents a 4.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 894,638 shares of company stock worth $169,965,038 over the last quarter. 6.80% of the stock is currently owned by insiders.

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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