Capital A Wealth Management LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

Capital A Wealth Management LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 200 shares of the company’s stock, valued at approximately $31,000.

Several other large investors also recently modified their holdings of the stock. Asset Dedication LLC grew its stake in shares of Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after purchasing an additional 59 shares during the period. Quarry LP grew 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 period. Gabelli Funds LLC grew 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 period. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after purchasing an additional 69 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Snowflake by 21.8% in the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after purchasing an additional 74 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America upped their price objective on Snowflake from $172.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. Canaccord Genuity Group increased their price target on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Citigroup restated an “outperform” rating on shares of Snowflake in a research report on Thursday. Evercore ISI restated an “outperform” rating and set a $232.00 price target (up from $200.00) on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $217.33.

Insider Activity

In related news, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. This trade represents a 50.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $168.01, for a total value of $67,708.03. Following the sale, the director now directly owns 25,972 shares in the company, valued at $4,363,555.72. The trade was a 1.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 356,963 shares of company stock valued at $58,204,058 in the last 90 days. 7.80% of the stock is owned by company insiders.

Snowflake Stock Performance

SNOW stock opened at $199.99 on Tuesday. The business’s fifty day moving average is $160.09 and its 200-day moving average is $164.69. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $66.02 billion, a P/E ratio of -58.99 and a beta of 1.11. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $205.40.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share 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 the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS. Equities research analysts forecast that Snowflake Inc. will post -2.36 EPS 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.