HB Wealth Management LLC Buys 540 Shares of Snowflake Inc. (NYSE:SNOW)

HB Wealth Management LLC increased its stake in Snowflake Inc. (NYSE:SNOW) by 23.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,818 shares of the company’s stock after buying an additional 540 shares during the period. HB Wealth Management LLC’s holdings in Snowflake were worth $455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Accent Capital Management LLC purchased a new position in shares of Snowflake in the 4th quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in Snowflake during the first quarter valued at $31,000. Hartford Financial Management Inc. bought a new stake in shares of Snowflake during the 1st quarter valued at $32,000. Future Financial Wealth Managment LLC bought a new position in shares of Snowflake in the 1st quarter worth about $32,000. Finally, FinTrust Capital Advisors LLC lifted its position in Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after acquiring an additional 128 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Snowflake from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Royal Bank of Canada lowered their price objective on Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. Loop Capital cut their target price on Snowflake from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Redburn Atlantic restated a “sell” rating and set a $125.00 price target (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $240.00 price target on shares of Snowflake in a research note on Wednesday, June 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.46.

Snowflake Trading Up 0.8 %

Shares of NYSE:SNOW traded up $1.13 during trading on Friday, reaching $143.99. The company’s stock had a trading volume of 3,686,849 shares, compared to its average volume of 6,614,972. The stock has a market capitalization of $48.21 billion, a PE ratio of -52.05 and a beta of 0.85. Snowflake Inc. has a 12 month low of $122.60 and a 12 month high of $237.72. The firm’s 50 day simple moving average is $145.02 and its two-hundred day simple moving average is $171.84.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The company had revenue of $828.71 million during the quarter, compared to the consensus estimate of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Research analysts anticipate that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the transaction, the insider now owns 63,222 shares in the company, valued at approximately $8,112,014.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the transaction, the insider now directly owns 63,222 shares in the company, valued at approximately $8,112,014.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total value of $57,743,980.80. Following the sale, the executive vice president now owns 494,942 shares in the company, valued at approximately $60,922,410.78. The disclosure for this sale can be found here. Insiders sold 519,112 shares of company stock valued at $64,932,073 over the last three months. 7.80% of the stock is owned by company insiders.

About Snowflake

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.