SteelPeak Wealth LLC Has $1.18 Million Holdings in Snowflake Inc. (NYSE:SNOW)

SteelPeak Wealth LLC raised its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 212.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,054 shares of the company's stock after purchasing an additional 5,480 shares during the period. SteelPeak Wealth LLC's holdings in Snowflake were worth $1,177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNOW. Norges Bank acquired a new stake in shares of Snowflake in the 4th quarter worth approximately $988,950,000. GQG Partners LLC acquired a new stake in shares of Snowflake in the 4th quarter worth approximately $750,572,000. FMR LLC lifted its stake in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after acquiring an additional 2,805,425 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Snowflake by 124.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after acquiring an additional 2,200,406 shares during the period. Finally, Groupama Asset Managment lifted its stake in shares of Snowflake by 930,132.6% in the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock worth $308,820,000 after acquiring an additional 1,999,785 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the completion of the transaction, the executive vice president directly owned 547,336 shares of the company's stock, valued at approximately $119,806,377.04. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $221.47, for a total transaction of $89,252.41. Following the transaction, the director directly owned 26,539 shares of the company's stock, valued at $5,877,592.33. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,718,258 shares of company stock valued at $589,762,906 in the last quarter. Company insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on SNOW. Morgan Stanley began coverage on shares of Snowflake in a report on Tuesday, June 24th. They issued an "overweight" rating and a $262.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. UBS Group upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $210.00 to $265.00 in a report on Wednesday, June 4th. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 target price on shares of Snowflake in a report on Thursday, June 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $225.36.

Snowflake Stock Performance

NYSE:SNOW traded down $0.74 during midday trading on Tuesday, reaching $212.78. The stock had a trading volume of 3,247,457 shares, compared to its average volume of 5,984,224. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $226.60. The firm's fifty day simple moving average is $204.44 and its 200-day simple moving average is $177.59. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $71.04 billion, a P/E ratio of -50.54 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last posted 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. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business posted $0.14 EPS. Snowflake's revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.