Snowflake Inc. $SNOW Shares Acquired by RPG Investment Advisory LLC

Key Points

• RPG Investment Advisory LLC increased its stake in Snowflake Inc. by 133.9% in the first quarter, acquiring an additional 31,774 shares, bringing its total holdings to approximately $8.1 million.
• Snowflake reported $1.04 billion in revenue for the last quarter, exceeding analysts' expectations, with a 25.8% year-over-year increase in revenue.
• Insider sales included a significant transaction by Director Frank Slootman, who sold 256,046 shares valued at over $58 million, reflecting a 60.74% decrease in his ownership in the company.

RPG Investment Advisory LLC boosted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 133.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,498 shares of the company's stock after buying an additional 31,774 shares during the quarter. RPG Investment Advisory LLC's holdings in Snowflake were worth $8,112,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Quarry LP raised its holdings in Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after acquiring an additional 59 shares in the last quarter. Ignite Planners LLC lifted its position in shares of Snowflake by 2.3% during the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock worth $418,000 after purchasing an additional 64 shares during the last quarter. Archford Capital Strategies LLC grew its stake in shares of Snowflake by 1.9% during 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 in the last quarter. TD Private Client Wealth LLC raised its stake in Snowflake by 8.9% in the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock valued at $122,000 after buying an additional 68 shares in the last quarter. Finally, WD Rutherford LLC lifted its holdings in Snowflake by 0.6% during the 1st quarter. WD Rutherford LLC now owns 12,247 shares of the company's stock worth $1,795,000 after buying an additional 79 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

Snowflake stock opened at $194.7610 on Friday. The stock has a fifty day moving average price of $211.34 and a 200 day moving average price of $184.88. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $229.27. The firm has a market capitalization of $65.02 billion, a P/E ratio of -46.26 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping 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 the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $0.14 EPS. The business's revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 256,046 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $227.15, for a total value of $58,160,848.90. Following the completion of the transaction, the director directly owned 165,507 shares of the company's stock, valued at $37,594,915.05. This represents a 60.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Teresa Briggs sold 1,146 shares of Snowflake stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $217.74, for a total value of $249,530.04. Following the sale, the director directly owned 4,474 shares in the company, valued at approximately $974,168.76. The trade was a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,916,826 shares of company stock worth $637,835,052. Company insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays reaffirmed an "overweight" rating and issued a $219.00 target price (up from $203.00) on shares of Snowflake in a research report on Thursday, May 22nd. Evercore ISI reissued a "buy" rating on shares of Snowflake in a research report on Wednesday, June 4th. Macquarie lifted their price target on Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 price target on shares of Snowflake in a research report on Thursday, June 5th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $212.00 target price (up previously from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $226.86.

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.

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