Snowflake Inc. (NYSE:SNOW) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 210.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,742 shares of the company's stock after acquiring an additional 60,840 shares during the period. SG Americas Securities LLC's holdings in Snowflake were worth $13,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Snowflake by 102.8% during the first quarter. GAMMA Investing LLC now owns 793 shares of the company's stock worth $116,000 after purchasing an additional 402 shares during the last quarter. Parisi Gray Wealth Management acquired a new stake in Snowflake during the 1st quarter worth approximately $409,000. Pallas Capital Advisors LLC grew its holdings in Snowflake by 388.4% during the 1st quarter. Pallas Capital Advisors LLC now owns 24,371 shares of the company's stock worth $3,562,000 after acquiring an additional 19,381 shares during the last quarter. Farther Finance Advisors LLC increased its position in Snowflake by 29.2% in the 1st quarter. Farther Finance Advisors LLC now owns 4,801 shares of the company's stock valued at $718,000 after acquiring an additional 1,085 shares during the period. Finally, CMH Wealth Management LLC raised its stake in shares of Snowflake by 4.8% during the first quarter. CMH Wealth Management LLC now owns 51,829 shares of the company's stock valued at $7,575,000 after acquiring an additional 2,385 shares during the last quarter. Institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on SNOW shares. JMP Securities restated a "market outperform" rating and issued a $245.00 price objective on shares of Snowflake in a report on Wednesday, June 4th. Stifel Nicolaus boosted their price target on Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Daiwa Capital Markets assumed coverage on shares of Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price objective on the stock. Daiwa America upgraded Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Finally, Piper Sandler reissued an "overweight" rating and set a $215.00 price objective (up from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and an average price target of $222.81.

Snowflake Price Performance

SNOW stock traded up $1.94 during mid-day trading on Thursday, hitting $210.55. The company had a trading volume of 1,958,010 shares, compared to its average volume of 6,279,973. The company has a market capitalization of $70.30 billion, a price-to-earnings ratio of -62.11 and a beta of 1.21. The company has a 50-day moving average price of $173.43 and a 200 day moving average price of $170.25. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $214.83.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $0.14 earnings per share. Snowflake's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 3,765 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total value of $586,172.85. Following the sale, the executive vice president now directly owns 616,602 shares in the company, valued at $95,998,765.38. This trade represents a 0.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 900,459 shares of company stock valued at $170,184,739 over the last three months. 6.80% of the stock is owned by company 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.