Smith Group Asset Management LLC Buys 2,620 Shares of Snowflake Inc. (NYSE:SNOW)

Smith Group Asset Management LLC increased its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 52.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,630 shares of the company's stock after purchasing an additional 2,620 shares during the quarter. Smith Group Asset Management LLC's holdings in Snowflake were worth $1,115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Opal Wealth Advisors LLC acquired a new position in Snowflake in the 1st quarter valued at about $26,000. CVA Family Office LLC lifted its stake 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 during the last quarter. West Paces Advisors Inc. acquired a new stake in Snowflake in the fourth quarter valued at about $31,000. Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in Snowflake in the fourth quarter valued at approximately $31,000. 65.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeremy Burton sold 19,111 shares of Snowflake stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $220.80, for a total transaction of $4,219,708.80. Following the completion of the transaction, the director directly owned 3,987 shares in the company, valued at approximately $880,329.60. The trade was a 82.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,875,814 shares of company stock worth $403,367,676 over the last 90 days. Company insiders own 6.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $245.00 price objective on shares of Snowflake in a research note on Wednesday, June 4th. Robert W. Baird raised their price target on shares of Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Piper Sandler reiterated an "overweight" rating and issued a $215.00 target price (up from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Macquarie raised their price target on shares of Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Cantor Fitzgerald upped their target price on shares of Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $225.36.

Snowflake Price Performance

NYSE SNOW traded up $1.21 during trading on Wednesday, reaching $217.18. The company's stock had a trading volume of 2,361,862 shares, compared to its average volume of 6,056,315. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a fifty day moving average of $193.96 and a 200 day moving average of $174.12. The stock has a market capitalization of $72.51 billion, a PE ratio of -51.59 and a beta of 1.22. Snowflake Inc. has a one year low of $107.13 and a one year high of $225.68.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm's revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.