Snowflake Inc. (NYSE:SNOW) Shares Bought by Wealth Advisory Solutions LLC

Wealth Advisory Solutions LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 65.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Snowflake in the fourth quarter valued at approximately $988,950,000. FMR LLC grew its position in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares in the last quarter. GQG Partners LLC acquired a new stake in Snowflake in the fourth quarter valued at approximately $750,572,000. Geode Capital Management LLC grew its position in Snowflake by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after acquiring an additional 15,314 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after acquiring an additional 2,200,406 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SNOW shares. Macquarie increased their price objective on shares of Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada increased their price objective on shares of Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. KeyCorp reaffirmed an "overweight" rating on shares of Snowflake in a research report on Wednesday, June 25th. Wells Fargo & Company reiterated an "overweight" rating and set a $250.00 target price (up from $225.00) on shares of Snowflake in a research note on Friday, June 13th. Finally, UBS Group upgraded Snowflake from a "neutral" rating to a "buy" rating and increased their target price for the company from $210.00 to $265.00 in a research note on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $225.36.

Snowflake Stock Performance

SNOW stock traded down $7.61 during mid-day trading on Thursday, reaching $214.29. The company had a trading volume of 4,794,663 shares, compared to its average volume of 6,024,633. 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 $71.54 billion, a P/E ratio of -50.90 and a beta of 1.22. Snowflake Inc. has a one year low of $107.13 and a one year high of $226.60. The stock's 50-day simple moving average is $202.68 and its two-hundred day simple moving average is $176.69.

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. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. Research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In other news, Director Frank Slootman sold 100,483 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $223.55, for a total transaction of $22,462,974.65. Following the transaction, the director directly owned 165,507 shares of the company's stock, valued at approximately $36,999,089.85. This trade represents a 37.78% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 on Monday, July 7th. The shares were sold at an average price of $221.47, for a total value of $89,252.41. Following the transaction, the director directly owned 26,539 shares in the company, valued at $5,877,592.33. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety 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 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.