Cambridge Investment Research Advisors Inc. Decreases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Cambridge Investment Research Advisors Inc. decreased its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,841 shares of the company's stock after selling 1,769 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Snowflake were worth $7,285,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in shares of Snowflake during the 1st quarter valued at about $26,000. CVA Family Office LLC boosted its holdings in 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 during the last quarter. West Paces Advisors Inc. purchased a new stake in shares of Snowflake in the 4th quarter valued at approximately $31,000. Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $31,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Robert W. Baird increased their price objective on Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research 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 research report on Thursday, May 22nd. HSBC lowered shares of Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 target price on shares of Snowflake in a research note on Thursday, June 5th. Finally, DA Davidson reissued a "buy" rating and issued a $250.00 price target on shares of Snowflake in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.22.

Insiders Place Their Bets

In related news, 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 value of $4,219,708.80. Following the transaction, the director now owns 3,987 shares in the company, valued at approximately $880,329.60. This trade represents a 82.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $160.00, for a total value of $1,600,000.00. Following the sale, the executive vice president now directly owns 590,632 shares of the company's stock, valued at approximately $94,501,120. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 622,903 shares of company stock valued at $127,235,701. Insiders own 6.80% of the company's stock.

Snowflake Stock Up 0.2%

Shares of SNOW traded up $0.53 during mid-day trading on Friday, reaching $222.45. The company's stock had a trading volume of 4,922,677 shares, compared to its average volume of 6,119,328. 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 $225.68. The stock has a market cap of $74.27 billion, a PE ratio of -52.84 and a beta of 1.21. The company's 50 day moving average is $189.12 and its 200 day moving average is $173.05.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.01 billion. During the same quarter last year, the company 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 anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.