Silver Oak Securities Incorporated Takes Position in Snowflake Inc. (NYSE:SNOW)

Silver Oak Securities Incorporated bought a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,730 shares of the company's stock, valued at approximately $712,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new position in Snowflake during the 1st quarter valued at $898,000. Lumbard & Kellner LLC purchased a new position in Snowflake during the 1st quarter valued at about $3,006,000. Premier Path Wealth Partners LLC purchased a new position in Snowflake during the 1st quarter valued at about $203,000. Grandview Asset Management LLC purchased a new stake in Snowflake in the first quarter worth about $274,000. Finally, Kingswood Wealth Advisors LLC increased its stake in shares of Snowflake by 14.9% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,156 shares of the company's stock valued at $315,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on SNOW. Needham & Company LLC restated a "buy" rating and issued a $230.00 price target on shares of Snowflake in a research note on Thursday, June 5th. Daiwa America raised Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Evercore ISI restated a "buy" rating on shares of Snowflake in a report on Wednesday, June 4th. Truist Financial lifted their price target on Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Scotiabank reissued an "outperform" rating 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 given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and an average target price of $223.50.

Snowflake Trading Up 1.2%

Snowflake stock opened at $211.89 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $214.83. The firm has a market capitalization of $70.74 billion, a price-to-earnings ratio of -50.33 and a beta of 1.21. The firm has a 50 day moving average of $181.78 and a 200 day moving average of $171.80. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) 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 firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the company posted $0.14 earnings per share. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 7,294 shares of the firm's 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 completion of the transaction, the director now directly owns 170,718 shares of the company's stock, valued at approximately $35,509,344. This trade represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on 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 in the company, valued at approximately $94,501,120. This represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 894,638 shares of company stock worth $169,965,038. Corporate insiders own 6.80% of the company's stock.

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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