Retirement Planning Group LLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Retirement Planning Group LLC acquired a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,202 shares of the company's stock, valued at approximately $322,000.

A number of other institutional investors also recently made changes to their positions in the business. Norges Bank purchased a new position in Snowflake in the 4th quarter worth $988,950,000. FMR LLC increased its holdings in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after buying an additional 2,805,425 shares during the period. GQG Partners LLC bought a new stake in shares of Snowflake in the 4th quarter valued at about $750,572,000. Geode Capital Management LLC lifted its stake in shares of Snowflake by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after acquiring an additional 15,314 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted 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 valued at $612,817,000 after acquiring an additional 2,200,406 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 1,783 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now owns 192,511 shares in the company, valued at approximately $28,345,319.64. This represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 685 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the transaction, the executive vice president now directly owns 622,611 shares in the company, valued at $91,673,243.64. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 849,779 shares of company stock valued at $159,318,643 over the last three months. Insiders own 6.80% of the company's stock.

Snowflake Stock Up 0.2%

Snowflake stock opened at $209.99 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a one year low of $107.13 and a one year high of $214.83. The company has a 50-day simple moving average of $168.14 and a 200-day simple moving average of $168.59. The firm has a market capitalization of $70.11 billion, a P/E ratio of -61.94 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last announced 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 return on equity of 24.23% and a negative net margin of 33.02%. The firm 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 business earned $0.14 EPS. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research analyst reports. Wall Street Zen upgraded Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. Bank of America upped their price target on shares of Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Robert W. Baird increased their target price on Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, Citigroup reiterated an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $221.28.

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.

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