Wealth Enhancement Advisory Services LLC Acquires 1,426 Shares of Snowflake Inc. (NYSE:SNOW)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,547 shares of the company's stock after purchasing an additional 1,426 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Snowflake were worth $6,803,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Robert W. Baird raised their price objective on Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 price objective on shares of Snowflake in a research report on Thursday, June 5th. Daiwa America raised Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. Scotiabank reaffirmed an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Guggenheim reissued a "neutral" rating on shares of Snowflake in a report on Thursday, February 27th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $225.22.

Snowflake Price Performance

Shares of SNOW opened at $223.10 on Wednesday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $224.61. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $74.48 billion, a P/E ratio of -52.99 and a beta of 1.21. The business's 50-day moving average is $186.03 and its two-hundred day moving average is $172.43.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the firm earned $0.14 EPS. The company's quarterly revenue was up 25.8% on a year-over-year basis. Research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $168.00, for a total value of $1,680,000.00. Following the transaction, the executive vice president now directly owns 580,632 shares in the company, valued at approximately $97,546,176. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 597,248 shares of company stock valued at $121,549,799. 6.80% of the stock is owned by corporate insiders.

About Snowflake

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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