SG Americas Securities LLC Purchases 60,840 Shares of Snowflake Inc. (NYSE:SNOW)

SG Americas Securities LLC increased its position in Snowflake Inc. (NYSE:SNOW) by 210.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 89,742 shares of the company’s stock after buying an additional 60,840 shares during the quarter. SG Americas Securities LLC’s holdings in Snowflake were worth $13,117,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SNOW. Brighton Jones LLC boosted its holdings in Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares during the period. Apollon Wealth Management LLC boosted its holdings in Snowflake by 10.6% in the 4th quarter. Apollon Wealth Management LLC now owns 9,447 shares of the company’s stock worth $1,459,000 after buying an additional 903 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Snowflake by 8.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 2,441 shares of the company’s stock worth $377,000 after buying an additional 195 shares during the period. Empowered Funds LLC boosted its holdings in Snowflake by 50.6% in the 4th quarter. Empowered Funds LLC now owns 9,054 shares of the company’s stock worth $1,398,000 after buying an additional 3,041 shares during the period. Finally, Quotient Wealth Partners LLC bought a new position in Snowflake in the 4th quarter worth $244,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Snowflake stock opened at $208.23 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $214.83. The firm has a market capitalization of $69.52 billion, a P/E ratio of -61.42 and a beta of 1.21. The company’s 50-day moving average is $171.87 and its 200 day moving average is $169.99.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share 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 company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $0.14 EPS. The firm’s revenue for the quarter 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.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $225.00 target price (up previously from $200.00) on shares of Snowflake in a report on Thursday, May 22nd. Truist Financial boosted their price target on shares of Snowflake from $210.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. KeyCorp decreased their price target on shares of Snowflake from $220.00 to $192.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Jefferies Financial Group boosted their price target on shares of Snowflake from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Monness Crespi & Hardt boosted their price target on shares of Snowflake from $230.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $222.81.

Insider Buying and Selling

In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total value of $82,144,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $60,090,389.60. This represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 3,765 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total transaction of $586,172.85. Following the completion of the transaction, the executive vice president now owns 616,602 shares in the company, valued at $95,998,765.38. This represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 898,052 shares of company stock valued at $169,679,365 in the last ninety days. 6.80% of the stock is owned by company insiders.

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.