Wealth Advisory Solutions LLC Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

Wealth Advisory Solutions LLC grew its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 65.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,611 shares of the company's stock after purchasing an additional 8,546 shares during the quarter. Wealth Advisory Solutions LLC's holdings in Snowflake were worth $3,159,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Snowflake in the first quarter valued at $26,000. CVA Family Office LLC increased its stake 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 in the last quarter. West Paces Advisors Inc. bought a new stake in Snowflake in the fourth quarter valued at $31,000. Spurstone Advisory Services LLC bought a new stake in Snowflake in the fourth quarter valued at $31,000. Finally, Capital A Wealth Management LLC bought a new stake in Snowflake in the fourth quarter valued at $31,000. Institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several research analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $250.00 price target (up from $225.00) on shares of Snowflake in a research note on Friday, June 13th. Truist Financial lifted their price target on shares of Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Daiwa America raised shares of Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Scotiabank reaffirmed an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Stifel Nicolaus lifted their price objective on shares of Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have given 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, Snowflake has a consensus rating of "Moderate Buy" and a consensus target price of $225.36.

Snowflake Stock Performance

Shares of Snowflake stock traded down $3.78 on Friday, reaching $210.64. 3,867,733 shares of the company traded hands, compared to its average volume of 6,007,748. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $226.60. The company has a 50 day moving average of $203.53 and a 200 day moving average of $177.12. The firm has a market capitalization of $70.32 billion, a PE ratio of -50.03 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share 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 firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $0.14 EPS. The company's revenue was up 25.8% compared to the same quarter last year. Equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 547,336 shares in the company, valued at approximately $119,806,377.04. This represents a 1.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $221.47, for a total transaction of $89,252.41. Following the sale, the director owned 26,539 shares in the company, 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. Over the last 90 days, insiders have sold 2,718,258 shares of company stock valued at $589,762,906. 6.80% of the stock is owned by corporate insiders.

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.