Alta Wealth Advisors LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,625 shares of the company’s stock, valued at approximately $373,000.
Other institutional investors also recently bought and sold shares of the company. RMR Wealth Builders purchased a new stake in shares of Snowflake during the 4th quarter valued at $25,000. Crescent Capital Consulting LLC acquired a new stake in shares of Snowflake during the 4th quarter valued at about $28,000. Cypress Capital Management LLC WY acquired a new stake in shares of Snowflake during the 4th quarter valued at about $28,000. Reilly Financial Advisors LLC acquired a new stake in shares of Snowflake during the 4th quarter valued at about $28,000. Finally, Mach 1 Financial Group Inc. acquired a new stake in shares of Snowflake during the 4th quarter valued at about $28,000. Institutional investors own 23.16% of the company’s stock.
In other news, Director Mark Garrett sold 47,186 shares of the company’s stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $250.00, for a total value of $11,796,500.00. Following the completion of the sale, the director now directly owns 47,186 shares of the company’s stock, valued at $11,796,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Benoit Dageville sold 29,750 shares of the company’s stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $228.97, for a total transaction of $6,811,857.50. The disclosure for this sale can be found here. Insiders sold 1,220,552 shares of company stock valued at $273,457,794 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.
Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Tuesday, March 2nd. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.53). The company had revenue of $190.50 million for the quarter, compared to analysts’ expectations of $178.64 million. Snowflake’s revenue was up 117.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Snowflake Inc. will post -1.77 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on SNOW shares. Deutsche Bank Aktiengesellschaft raised shares of Snowflake from a “hold” rating to a “buy” rating and raised their price target for the company from $270.00 to $300.00 in a research note on Wednesday, March 10th. Morgan Stanley raised their price target on shares of Snowflake from $265.00 to $270.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 10th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on shares of Snowflake from $300.00 to $325.00 in a research note on Wednesday, January 13th. Smith Barney Citigroup raised their target price on shares of Snowflake from $300.00 to $325.00 in a research note on Wednesday, January 13th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $270.00 target price (down from $310.00) on shares of Snowflake in a research note on Thursday, March 4th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $287.59.
Snowflake Company Profile
Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data. Its platform is used by various organizations of various sizes in a range of industries.
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