Snowden Capital Advisors LLC Invests $298,000 in Snowflake Inc. (NYSE:SNOW)

Snowden Capital Advisors LLC bought a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,930 shares of the company’s stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SNOW. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the 4th quarter worth about $29,000. West Paces Advisors Inc. bought a new stake in shares of Snowflake during the 4th quarter valued at about $31,000. Quadrant Capital Group LLC raised its stake in Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the period. Colonial Trust Co SC acquired a new stake in Snowflake during the fourth quarter worth about $33,000. Finally, Blue Bell Private Wealth Management LLC raised its stake in Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after acquiring an additional 144 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total value of $67,708.03. Following the completion of the sale, the director now owns 25,972 shares in the company, valued at $4,363,555.72. This represents a 1.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the sale, the executive vice president now owns 594,975 shares of the company’s stock, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 356,963 shares of company stock valued at $58,204,058. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Up 13.5%

Snowflake stock opened at $203.35 on Friday. The company has a 50 day moving average price of $158.29 and a 200 day moving average price of $162.99. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $204.00. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $67.13 billion, a price-to-earnings ratio of -59.99 and a beta of 1.11.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $0.14 EPS. The company’s revenue was up 25.8% on a year-over-year basis. Research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SNOW. Rosenblatt Securities reiterated a “buy” rating and set a $205.00 price objective on shares of Snowflake in a research note on Monday. Wall Street Zen upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Citigroup reiterated an “outperform” rating on shares of Snowflake in a research note on Thursday. DA Davidson increased their price objective on shares of Snowflake from $200.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Snowflake in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $216.46.

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.