Jefferies Financial Group Inc. Boosts Stake in Snowflake Inc. (NYSE:SNOW)

Jefferies Financial Group Inc. raised its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 139.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,135 shares of the company's stock after acquiring an additional 3,577 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Snowflake were worth $947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SNOW. Nisa Investment Advisors LLC boosted its position in Snowflake by 31.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company's stock valued at $314,000 after acquiring an additional 490 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Snowflake by 28.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 43,877 shares of the company's stock worth $6,775,000 after acquiring an additional 9,784 shares in the last quarter. Mutual Advisors LLC bought a new position in shares of Snowflake during the 4th quarter worth approximately $298,000. Avior Wealth Management LLC raised its stake in shares of Snowflake by 182.0% during the 4th quarter. Avior Wealth Management LLC now owns 313 shares of the company's stock worth $48,000 after acquiring an additional 202 shares in the last quarter. Finally, Brighton Jones LLC increased its stake in Snowflake by 90.0% during the 4th 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. Institutional investors own 65.10% of the company's stock.

Snowflake Stock Performance

NYSE SNOW traded up $3.38 during mid-day trading on Friday, reaching $205.69. 7,073,445 shares of the stock were exchanged, compared to its average volume of 6,465,363. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $68.67 billion, a P/E ratio of -60.68 and a beta of 1.11. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $209.80. The business's 50 day moving average is $163.63 and its 200-day moving average is $166.35.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The business 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 revenue was up 25.8% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. On average, equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays restated an "overweight" rating and set a $219.00 price target (up previously from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. DA Davidson upped their price target on shares of Snowflake from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Needham & Company LLC upped their price target on shares of Snowflake from $215.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group increased their price objective on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Finally, Bank of America increased their price objective on shares of Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $217.33.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 1,783 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now directly owns 192,511 shares of the company's stock, valued at approximately $28,345,319.64. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the transaction, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. This represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 849,779 shares of company stock valued at $158,838,193 over the last ninety days. Corporate insiders own 7.80% of the company's stock.

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.