PFG Investments LLC cut its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 26.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,367 shares of the company's stock after selling 1,237 shares during the period. PFG Investments LLC's holdings in Snowflake were worth $492,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new stake in Snowflake in the first quarter valued at $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 in the last quarter. West Paces Advisors Inc. acquired a new stake in Snowflake in the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC acquired a new position in shares of Snowflake during the 4th quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake in the 4th quarter worth $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on SNOW shares. Canaccord Genuity Group lifted their price target on Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Macquarie upped their price target on Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Cantor Fitzgerald lifted their price target on shares of Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. BTIG Research reaffirmed a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Daiwa Capital Markets began coverage on shares of Snowflake in a research note on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $225.22.
Check Out Our Latest Stock Analysis on Snowflake
Insider Buying and Selling at Snowflake
In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total value of $82,144,000.00. Following the transaction, the chief financial officer now owns 292,610 shares in the company, valued at $60,090,389.60. The trade was a 57.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 594,638 shares of company stock worth $121,002,038 in the last quarter. 6.80% of the stock is owned by insiders.
Snowflake Price Performance
NYSE:SNOW traded up $9.39 during mid-day trading on Tuesday, hitting $223.10. 6,194,092 shares of the company's stock traded hands, compared to its average volume of 6,174,619. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $224.57. The company has a market cap of $74.48 billion, a PE ratio of -52.99 and a beta of 1.21. 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 firm's 50 day simple moving average is $184.50 and its 200 day simple moving average is $172.08.
Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. Snowflake's revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. Sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.
About Snowflake
(
Free Report)
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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