waypoint wealth counsel Takes Position in Snowflake Inc. (NYSE:SNOW)

waypoint wealth counsel bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 1,573 shares of the company's stock, valued at approximately $230,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after buying an additional 29,320 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Snowflake by 60.0% in the fourth quarter. Principal Financial Group Inc. now owns 109,230 shares of the company's stock worth $16,866,000 after acquiring an additional 40,979 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Snowflake by 86.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,270 shares of the company's stock worth $351,000 after purchasing an additional 1,053 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Snowflake by 21.1% during the 4th quarter. First Horizon Advisors Inc. now owns 621 shares of the company's stock valued at $96,000 after purchasing an additional 108 shares in the last quarter. Finally, Wealthspire Advisors LLC grew its position in shares of Snowflake by 9.0% in the 4th quarter. Wealthspire Advisors LLC now owns 9,562 shares of the company's stock valued at $1,476,000 after purchasing an additional 791 shares during the period. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stifel Nicolaus raised 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. Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Macquarie raised their price target on shares of Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Mizuho lifted their price objective on shares of Snowflake from $215.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, Royal Bank Of Canada lifted 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $225.22.

Snowflake Stock Performance

NYSE SNOW traded down $1.35 during trading hours on Wednesday, reaching $221.79. 3,547,127 shares of the company were exchanged, compared to its average volume of 6,161,455. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $74.05 billion, a P/E ratio of -52.68 and a beta of 1.21. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $225.53. The business's 50 day simple moving average is $186.03 and its 200-day simple moving average is $172.43.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results 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 net margin of 36.43% and a negative return on equity of 37.75%. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. Snowflake's revenue was up 25.8% on a year-over-year basis. On average, equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity

In related news, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $160.00, for a total value of $1,600,000.00. Following the completion of the transaction, the executive vice president now directly owns 590,632 shares in the company, valued at approximately $94,501,120. The trade was a 1.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Scarpelli sold 400,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total value of $82,144,000.00. Following the sale, the chief financial officer now owns 292,610 shares in the company, valued at $60,090,389.60. The trade was a 57.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 597,248 shares of company stock valued at $121,549,799 over the last quarter. Company insiders own 6.80% of the company's stock.

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.