SteelPeak Wealth LLC lifted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 212.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,054 shares of the company's stock after acquiring 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 reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Diversify Wealth Management LLC purchased a new stake in shares of Snowflake in the first quarter worth about $4,018,000. Caas Capital Management LP purchased a new stake in shares of Snowflake in the first quarter worth about $307,000. Xponance Inc. lifted its position in shares of Snowflake by 1.1% in the first quarter. Xponance Inc. now owns 59,903 shares of the company's stock worth $8,755,000 after buying an additional 660 shares in the last quarter. Robeco Schweiz AG lifted its position in shares of Snowflake by 31.9% in the first quarter. Robeco Schweiz AG now owns 48,000 shares of the company's stock worth $7,016,000 after buying an additional 11,600 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Snowflake by 62.7% in the first quarter. Cerity Partners LLC now owns 101,293 shares of the company's stock worth $14,805,000 after buying an additional 39,040 shares in the last quarter. Institutional investors own 65.10% of the company's stock.
Insider Transactions at Snowflake
In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the completion of the sale, the executive vice president owned 547,336 shares of the company's stock, valued at approximately $119,806,377.04. The trade was a 1.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 of the company's stock, valued at approximately $974,168.76. This represents a 20.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,718,258 shares of company stock worth $589,762,906. 6.80% of the stock is owned by insiders.
Snowflake Stock Down 1.8%
Snowflake stock opened at $210.64 on Friday. 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 $70.32 billion, a price-to-earnings ratio of -50.03 and a beta of 1.22. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $226.60. The business has a fifty day moving average price of $203.53 and a 200-day moving average price of $177.02.
Snowflake (NYSE:SNOW - Get Free Report) last posted 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 return on equity of 37.75% and a negative net margin of 36.43%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the firm earned $0.14 EPS. The business's quarterly revenue was up 25.8% on a year-over-year basis. Equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. DA Davidson reiterated a "buy" rating and issued a $250.00 target price on shares of Snowflake in a research report on Wednesday, June 4th. Evercore ISI restated a "buy" rating on shares of Snowflake in a research report on Wednesday, June 4th. Macquarie upped their price objective on Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. upped their price objective on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Finally, Loop Capital upped their price objective on Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and a consensus target price of $225.36.
Read Our Latest Stock Report on SNOW
Snowflake Profile
(
Free Report)
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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