Allen Capital Group LLC boosted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 10.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,059 shares of the company's stock after purchasing an additional 1,826 shares during the period. Allen Capital Group LLC's holdings in Snowflake were worth $2,932,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Snowflake in the 1st quarter worth about $26,000. CVA Family Office LLC grew its stake in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after acquiring an additional 88 shares in the last quarter. West Paces Advisors Inc. bought a new position in Snowflake in the 4th quarter worth about $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake in the 4th quarter worth about $31,000. Finally, Capital A Wealth Management LLC bought a new position in Snowflake in the 4th quarter worth about $31,000. 65.10% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley assumed coverage on shares of Snowflake in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $262.00 price objective for the company. Daiwa America raised shares of Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Stifel Nicolaus boosted their price objective on shares of Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, BTIG Research reaffirmed a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Two investment 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $226.73.
View Our Latest Analysis on SNOW
Snowflake Stock Up 2.1%
Shares of NYSE:SNOW traded up $4.52 during trading hours on Friday, reaching $216.10. The stock had a trading volume of 1,841,937 shares, compared to its average volume of 5,201,831. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $226.60. The firm's 50 day moving average is $206.90 and its 200-day moving average is $178.46. 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 stock has a market capitalization of $72.15 billion, a price-to-earnings ratio of -51.33 and a beta of 1.22.
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. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $0.14 EPS. The company's quarterly revenue was up 25.8% compared to the same quarter last year. Research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Frank Slootman sold 424,852 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total value of $93,191,286.20. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at approximately $36,303,960.45. This represents a 71.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark Garrett sold 67,000 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $198.98, for a total transaction of $13,331,660.00. Following the sale, the director owned 7,428 shares of the company's stock, valued at approximately $1,478,023.44. This represents a 90.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,718,258 shares of company stock worth $589,762,906. Corporate insiders own 6.80% of the company's stock.
About Snowflake
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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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