Lyell Wealth Management LP Buys 2,206 Shares of Snowflake Inc. $SNOW

Lyell Wealth Management LP boosted its stake in Snowflake Inc. (NYSE:SNOW) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,560 shares of the company’s stock after acquiring an additional 2,206 shares during the quarter. Lyell Wealth Management LP’s holdings in Snowflake were worth $13,284,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SNOW. GoalVest Advisory LLC lifted its position in Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after acquiring an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after acquiring an additional 51 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after acquiring an additional 50 shares in the last quarter. Ameriflex Group Inc. lifted its position in Snowflake by 252.2% during the 3rd quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock worth $37,000 after buying an additional 116 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new stake in Snowflake during the 3rd quarter worth about $39,000. 65.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SNOW shares. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Wednesday, February 18th. JPMorgan Chase & Co. boosted their price target on shares of Snowflake from $245.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Piper Sandler boosted their price target on shares of Snowflake from $295.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Mizuho boosted their price target on shares of Snowflake from $220.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, Sanford C. Bernstein boosted their price target on shares of Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $291.77.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 437,076 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the transaction, the director directly owned 38,046 shares in the company, valued at $9,603,951.78. The trade was a 91.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the transaction, the director owned 29,396 shares in the company, valued at $4,356,781.16. This represents a 63.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,589,550 shares of company stock worth $359,438,410 in the last ninety days. Insiders own 4.80% of the company’s stock.

Snowflake Stock Up 0.2%

Snowflake stock opened at $240.31 on Friday. The firm has a market capitalization of $83.29 billion, a PE ratio of -68.27 and a beta of 1.35. The company’s 50-day moving average is $172.06 and its 200-day moving average is $189.92. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. Snowflake’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 EPS. Sell-side analysts anticipate that Snowflake Inc. will post -1.87 earnings per share for the current year.

Snowflake Company Profile

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.