2,550 Shares in Snowflake Inc. $SNOW Bought by Spartan Wealth Advisory Services LLC

Spartan Wealth Advisory Services LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,550 shares of the company’s stock, valued at approximately $385,000.

A number of other institutional investors have also recently added to or reduced their stakes in SNOW. Norges Bank purchased a new position in shares of Snowflake in the 4th quarter worth about $974,091,000. Jennison Associates LLC grew its holdings in shares of Snowflake by 27.7% during the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after purchasing an additional 2,519,413 shares during the period. Jericho Capital Asset Management L.P. purchased a new stake in shares of Snowflake during the 4th quarter worth about $345,619,000. Vanguard Group Inc. raised its holdings in Snowflake by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after buying an additional 1,448,094 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Snowflake by 445.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,490,569 shares of the company’s stock valued at $326,971,000 after buying an additional 1,217,350 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Mizuho boosted their price objective on shares of Snowflake from $220.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Raymond James Financial reissued an “outperform” rating and issued a $275.00 target price on shares of Snowflake in a research note on Thursday, May 28th. Canaccord Genuity Group lifted their target price on shares of Snowflake from $240.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $310.00 price target on shares of Snowflake in a research report on Monday. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $325.00 price target on shares of Snowflake in a report on Tuesday, May 19th. Thirty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $296.27.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 437,076 shares of Snowflake stock in a transaction on Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the completion of the sale, the director owned 38,046 shares in the company, valued at approximately $9,603,951.78. The trade was a 91.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $141.60, for a total transaction of $7,127,860.80. Following the completion of the sale, the director directly owned 28,556 shares in the company, valued at $4,043,529.60. This represents a 63.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,802,015 shares of company stock valued at $421,739,629 in the last three months. Corporate insiders own 4.80% of the company’s stock.

Snowflake Stock Up 2.2%

Shares of NYSE SNOW opened at $274.92 on Tuesday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The firm has a market cap of $95.29 billion, a price-to-earnings ratio of -78.10 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day simple moving average is $229.90 and its 200-day simple moving average is $193.81.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. Snowflake’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, equities analysts anticipate that Snowflake Inc. will post -1.84 earnings per share for the current fiscal year.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.