Snowflake Inc. (NYSE:SNOW) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 413.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,546 shares of the company's stock after buying an additional 14,129 shares during the period. Sequoia Financial Advisors LLC's holdings in Snowflake were worth $2,564,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SNOW. Opal Wealth Advisors LLC acquired a new stake in Snowflake in the 1st quarter worth about $26,000. CVA Family Office LLC lifted its stake in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. acquired a new position in shares of Snowflake in the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC acquired a new position in shares of Snowflake in the 4th quarter valued at about $31,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Snowflake in the 4th quarter valued at about $31,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of NYSE SNOW opened at $222.45 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $225.68. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $74.27 billion, a price-to-earnings ratio of -52.84 and a beta of 1.21. The business has a 50 day simple moving average of $190.70 and a 200-day simple moving average of $173.42.

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

Insider Activity at Snowflake

In other Snowflake news, Director Jeremy Burton sold 19,111 shares of the business's 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 now owns 3,987 shares in the company, valued at approximately $880,329.60. The trade was a 82.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $160.00, for a total value of $1,600,000.00. Following the transaction, the executive vice president now owns 590,632 shares of the company's stock, valued at $94,501,120. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 622,903 shares of company stock worth $127,235,701 in the last 90 days. 6.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Evercore ISI reaffirmed a "buy" rating on shares of Snowflake in a research note on Wednesday, June 4th. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Jefferies Financial Group lifted their price objective on Snowflake from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, DA Davidson reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Snowflake 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-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.22.

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.

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