Alta Wealth Advisors LLC Purchases 80 Shares of Snowflake Inc. (NYSE:SNOW)

by · The Markets Daily

Alta Wealth Advisors LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,918 shares of the company’s stock after acquiring an additional 80 shares during the period. Alta Wealth Advisors LLC’s holdings in Snowflake were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Snowflake in the first quarter valued at about $26,000. CVA Family Office LLC boosted its stake in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. acquired a new stake in shares of Snowflake in the 4th quarter valued at approximately $31,000. Spurstone Advisory Services LLC bought a new stake in shares of Snowflake during the 4th quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC acquired a new position in Snowflake during the 4th quarter worth approximately $31,000. 65.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of research analyst reports. DA Davidson restated a “buy” rating and issued a $250.00 target price on shares of Snowflake in a research report on Wednesday, June 4th. Daiwa Capital Markets started coverage on Snowflake in a report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price objective on the stock. Sanford C. Bernstein restated a “market perform” rating on shares of Snowflake in a research report on Thursday, May 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of Snowflake in a research report on Thursday, June 5th. Finally, Citigroup reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.22.

Get Our Latest Report on Snowflake

Snowflake Stock Up 0.2%

Shares of NYSE SNOW opened at $221.89 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm has a market cap of $74.08 billion, a PE ratio of -52.71 and a beta of 1.21. The company’s fifty day simple moving average is $189.12 and its 200 day simple moving average is $173.05. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $225.68.

Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 earnings per share. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 5,000 shares of Snowflake stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $225.00, for a total transaction of $1,125,000.00. Following the completion of the transaction, the executive vice president now directly owns 48,568 shares in the company, valued at $10,927,800. This trade represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 622,903 shares of company stock valued at $127,235,701 in the last three months. Corporate insiders own 6.80% of the company’s stock.

Snowflake Profile

(Free Report)

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.

See Also

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