Sowell Financial Services LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

Sowell Financial Services LLC bought a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,290 shares of the company's stock, valued at approximately $481,000.

Other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Snowflake in the first quarter valued at approximately $26,000. CVA Family Office LLC grew its holdings in Snowflake by 80.0% in the first 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 period. West Paces Advisors Inc. purchased a new stake in Snowflake in the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake during the fourth quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake during the fourth quarter worth approximately $31,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler restated an "overweight" rating and issued a $215.00 target price (up from $175.00) on shares of Snowflake in a research note on Wednesday, May 21st. BTIG Research restated a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Robert W. Baird upped their target price on shares of Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Sanford C. Bernstein restated a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Cowen restated a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and an average price target of $223.54.

Snowflake Stock Performance

Shares of Snowflake stock traded down $0.24 during trading on Friday, hitting $211.84. 4,238,099 shares of the stock were exchanged, compared to its average volume of 6,182,683. The stock's fifty day moving average is $183.12 and its 200 day moving average is $171.94. The stock has a market cap of $70.73 billion, a PE ratio of -50.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $215.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results 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. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. Snowflake's revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This represents a 1.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 7,294 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $208.00, for a total transaction of $1,517,152.00. Following the completion of the transaction, the director now owns 170,718 shares of the company's stock, valued at $35,509,344. This represents a 4.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 894,638 shares of company stock worth $169,965,038 in the last 90 days. Corporate insiders own 6.80% of the company's stock.

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.