Snowflake Inc. (NYSE:SNOW) Stake Raised by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC grew its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 45.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 10,515 shares of the company’s stock after acquiring an additional 3,299 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Snowflake were worth $1,699,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Trexquant Investment LP grew its holdings in Snowflake by 266.3% during the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock worth $2,089,000 after acquiring an additional 7,633 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Snowflake in the 1st quarter worth $244,000. Congress Wealth Management LLC DE acquired a new stake in shares of Snowflake during the fourth quarter worth $232,000. Vanguard Group Inc. boosted its position in shares of Snowflake by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after purchasing an additional 1,559,830 shares during the period. Finally, Rakuten Securities Inc. purchased a new position in Snowflake in the 4th quarter worth about $790,000. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other Snowflake news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the transaction, the insider now directly owns 63,222 shares in the company, valued at $8,112,014.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Snowflake news, Director Frank Slootman sold 3,455 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $126.08, for a total value of $435,606.40. Following the transaction, the director now directly owns 221,016 shares of the company’s stock, valued at approximately $27,865,697.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the sale, the insider now directly owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The disclosure for this sale can be found here. Insiders sold a total of 46,147 shares of company stock worth $6,686,742 in the last three months. Insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNOW. Loop Capital dropped their target price on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Snowflake in a research report on Wednesday, June 5th. BNP Paribas raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 target price for the company in a research report on Thursday, May 2nd. Rosenblatt Securities restated a “buy” rating and set a $195.00 price target on shares of Snowflake in a research note on Thursday, June 6th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Snowflake in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.03.

Snowflake Stock Up 1.9 %

Shares of SNOW traded up $2.50 during trading hours on Thursday, reaching $131.63. The stock had a trading volume of 1,348,181 shares, compared to its average volume of 6,568,548. The company has a market cap of $44.07 billion, a P/E ratio of -46.12 and a beta of 0.85. The firm has a 50-day moving average of $146.23 and a 200 day moving average of $174.05. Snowflake Inc. has a 52 week low of $122.60 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The firm had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. As a group, equities analysts expect that Snowflake Inc. will post -2.28 earnings per share for the current year.

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.