CMH Wealth Management LLC Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

CMH Wealth Management LLC grew its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 4.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,829 shares of the company's stock after acquiring an additional 2,385 shares during the period. Snowflake comprises approximately 1.9% of CMH Wealth Management LLC's investment portfolio, making the stock its 24th biggest position. CMH Wealth Management LLC's holdings in Snowflake were worth $7,575,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC purchased a new stake in Snowflake in the 4th quarter worth $29,000. West Paces Advisors Inc. acquired a new stake in Snowflake in the 4th quarter worth about $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake during the 4th quarter worth approximately $31,000. Capital A Wealth Management LLC purchased a new stake in Snowflake during the 4th quarter worth approximately $31,000. Finally, Carolinas Wealth Consulting LLC acquired a new position in shares of Snowflake during the fourth quarter valued at approximately $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Raymond James reaffirmed an "outperform" rating and issued a $212.00 price target (up from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Cantor Fitzgerald increased their target price 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. Barclays reaffirmed an "overweight" rating and set a $219.00 price objective (up previously from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. KeyCorp decreased their target price on shares of Snowflake from $220.00 to $192.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Daiwa Capital Markets assumed coverage on Snowflake in a research note on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price for the company. 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $222.81.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 7,908 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $154.67, for a total value of $1,223,130.36. Following the completion of the transaction, the executive vice president now owns 600,632 shares in the company, valued at approximately $92,899,751.44. This represents a 1.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $211.35, for a total transaction of $85,174.05. Following the completion of the transaction, the director now directly owns 25,569 shares in the company, valued at $5,404,008.15. This trade represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 898,052 shares of company stock valued at $169,679,365 over the last quarter. 6.80% of the stock is owned by insiders.

Snowflake Stock Down 1.2%

Shares of SNOW stock traded down $2.63 during trading hours on Tuesday, reaching $208.23. 3,595,580 shares of the stock were exchanged, compared to its average volume of 6,316,473. The business's fifty day moving average is $170.50 and its two-hundred day moving average is $169.72. The firm has a market capitalization of $69.52 billion, a P/E ratio of -61.42 and a beta of 1.21. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $214.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company's quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 EPS. As a group, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.