ZEGA Investments LLC Has $298,000 Stock Position in Snowflake Inc. $SNOW

Key Points

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ZEGA Investments LLC reduced its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 40.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,042 shares of the company's stock after selling 1,400 shares during the quarter. ZEGA Investments LLC's holdings in Snowflake were worth $298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quarry LP boosted its stake in shares of Snowflake by 9.8% in the 4th quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after purchasing an additional 59 shares during the last quarter. Ignite Planners LLC boosted its stake in shares of Snowflake by 2.3% in the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock valued at $418,000 after purchasing an additional 64 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after purchasing an additional 65 shares during the last quarter. Archford Capital Strategies LLC boosted its stake in shares of Snowflake by 1.9% in the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock valued at $527,000 after purchasing an additional 68 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Snowflake by 8.9% in the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock valued at $122,000 after purchasing an additional 68 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

NYSE SNOW opened at $198.04 on Tuesday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $229.27. The company has a 50-day simple moving average of $212.25 and a 200 day simple moving average of $184.68. 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 $66.12 billion, a PE ratio of -47.04 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (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 business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company posted $0.14 earnings per share. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. On average, research analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SNOW shares. Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Robert W. Baird increased their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and set a $230.00 target price on shares of Snowflake in a research note on Thursday, June 5th. KeyCorp reissued an "overweight" rating on shares of Snowflake in a research note on Wednesday, June 25th. Finally, UBS Group cut their target price on shares of Snowflake from $265.00 to $250.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $226.32.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 424,852 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at $36,303,960.45. This trade represents a 71.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Scarpelli sold 400,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the transaction, the chief financial officer owned 292,610 shares of the company's stock, valued at $60,090,389.60. This represents a 57.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,014,642 shares of company stock valued at $657,325,186 in the last quarter. Company insiders own 6.80% of the company's stock.

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.

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