Private Advisor Group LLC Increases Position in Snowflake Inc. (NYSE:SNOW)

Private Advisor Group LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,041 shares of the company's stock after buying an additional 1,678 shares during the period. Private Advisor Group LLC's holdings in Snowflake were worth $3,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of SNOW. Brighton Jones LLC raised its stake in Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Natixis Advisors LLC bought a new stake in shares of Snowflake in the 4th quarter worth about $1,837,000. Teacher Retirement System of Texas raised its position in shares of Snowflake by 782.2% during the 4th quarter. Teacher Retirement System of Texas now owns 17,793 shares of the company's stock valued at $2,747,000 after buying an additional 15,776 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of Snowflake by 32.6% during the 4th quarter. TD Private Client Wealth LLC now owns 764 shares of the company's stock valued at $118,000 after buying an additional 188 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Snowflake in the 4th quarter valued at about $459,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Trading Up 1.1%

NYSE:SNOW traded up $2.28 during trading hours on Thursday, hitting $214.84. The company had a trading volume of 2,224,562 shares, compared to its average volume of 5,130,916. The company has a market cap of $71.73 billion, a P/E ratio of -51.03 and a beta of 1.22. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $226.60. The company has a 50-day moving average of $209.72 and a 200 day moving average of $180.04. 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 issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate 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 net margin of 36.43% and a negative return on equity of 37.75%. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 EPS. Sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $218.89, for a total value of $2,188,900.00. Following the transaction, the executive vice president directly owned 547,336 shares in the company, valued at $119,806,377.04. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 100,483 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $223.55, for a total transaction of $22,462,974.65. Following the completion of the transaction, the director owned 165,507 shares of the company's stock, valued at approximately $36,999,089.85. The trade was a 37.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,718,258 shares of company stock valued at $589,762,906. 6.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SNOW. Mizuho boosted their price objective on Snowflake from $215.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. KeyCorp reissued an "overweight" rating on shares of Snowflake in a research report on Wednesday, June 25th. Truist Financial raised their price target on shares of Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Raymond James Financial reissued an "outperform" rating and set a $212.00 price objective (up from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. Finally, Loop Capital raised their target price on Snowflake from $220.00 to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and an average price target of $226.73.

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.