Victrix Investment Advisors Purchases Shares of 3,757 Snowflake Inc. (NYSE:SNOW)

Victrix Investment Advisors bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,757 shares of the company's stock, valued at approximately $580,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Park Avenue Securities LLC lifted its holdings in shares of Snowflake by 50.7% in the fourth quarter. Park Avenue Securities LLC now owns 13,000 shares of the company's stock valued at $2,007,000 after purchasing an additional 4,373 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in Snowflake by 2.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 12,421 shares of the company's stock valued at $1,918,000 after buying an additional 241 shares during the last quarter. Merit Financial Group LLC acquired a new stake in Snowflake in the 4th quarter valued at approximately $493,000. Lake Street Private Wealth LLC bought a new stake in Snowflake in the 4th quarter valued at approximately $222,000. Finally, HB Wealth Management LLC acquired a new position in Snowflake during the 4th quarter worth approximately $397,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNOW. Truist Financial raised their price objective on Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of Snowflake from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday. Piper Sandler reaffirmed an "overweight" rating and issued a $215.00 target price (up from $175.00) on shares of Snowflake in a report on Wednesday. BTIG Research upgraded Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target for the company in a report on Thursday, February 20th. Finally, KeyCorp dropped their price objective on Snowflake from $220.00 to $192.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $215.27.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $168.01, for a total value of $67,708.03. Following the sale, the director now directly owns 25,972 shares in the company, valued at $4,363,555.72. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at $47,756,878.10. This represents a 50.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,963 shares of company stock worth $58,204,058 in the last quarter. 7.80% of the stock is owned by insiders.

Snowflake Price Performance

NYSE:SNOW traded up $24.23 on Thursday, hitting $203.35. The company had a trading volume of 26,161,167 shares, compared to its average volume of 6,502,813. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $203.84. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $67.13 billion, a price-to-earnings ratio of -59.99 and a beta of 1.11. The firm has a 50 day moving average of $157.35 and a two-hundred day moving average of $162.37.

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, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $0.14 EPS. Snowflake's revenue for the quarter was up 25.8% on a year-over-year basis. On average, research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.