Jefferies Financial Group Inc. Buys 8,196 Shares of Snowflake Inc. (NYSE:SNOW)

Key Points

• Jefferies Financial Group Inc. increased its holdings in Snowflake Inc. by 133.6%, owning 14,331 shares valued at approximately $2.1 million.
• Analysts have set a consensus price target of $226.73 for Snowflake, with a mix of ratings including 33 buy and 3 strong buy recommendations.
• Insider sales included Director Teresa Briggs selling 1,146 shares for approximately $249,530, reflecting a significant 20.39% reduction in her position.

Jefferies Financial Group Inc. raised its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 133.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,331 shares of the company's stock after purchasing an additional 8,196 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Snowflake were worth $2,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of SNOW. Quarry LP lifted its position in shares of Snowflake by 9.8% during the 4th quarter. Quarry LP now owns 662 shares of the company's stock worth $102,000 after buying an additional 59 shares in the last quarter. Ignite Planners LLC lifted its holdings in Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock worth $418,000 after acquiring an additional 64 shares during the period. Gabelli Funds LLC lifted its holdings in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after acquiring an additional 65 shares during the period. Archford Capital Strategies LLC boosted its position in Snowflake by 1.9% in the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock worth $527,000 after purchasing an additional 68 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in Snowflake by 8.9% in the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock valued at $122,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent analyst reports. HSBC cut Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. JMP Securities lifted their price objective on shares of Snowflake from $245.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Friday, July 18th. DA Davidson reissued a "buy" rating and set a $250.00 target price on shares of Snowflake in a research report on Wednesday, June 4th. Mizuho raised their price target on shares of Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $205.00 price objective on shares of Snowflake in a research note on Monday, May 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $226.73.

Snowflake Trading Up 2.3%

Snowflake stock traded up $4.82 during trading hours on Wednesday, reaching $210.59. The company had a trading volume of 3,233,658 shares, compared to its average volume of 3,513,548. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $229.27. The company has a 50-day moving average price of $214.04 and a 200 day moving average price of $183.36. The firm has a market cap of $70.31 billion, a price-to-earnings ratio of -50.02 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate 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 previous year, the firm earned $0.14 earnings per share. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. Equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Transactions at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the transaction, the chief financial officer owned 292,610 shares in the company, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 424,852 shares of the firm'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 transaction, the director directly owned 165,507 shares of the company's stock, valued at $36,303,960.45. This represents a 71.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,014,642 shares of company stock worth $657,325,186 in the last 90 days. Corporate insiders own 6.80% 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.