181 Shares in Snowflake Inc. (NYSE:SNOW) Bought by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 1st quarter, HoldingsChannel reports. The firm acquired 181 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Snowflake by 50.6% during the 4th quarter. Empowered Funds LLC now owns 9,054 shares of the company’s stock worth $1,398,000 after buying an additional 3,041 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Snowflake by 90.2% in the 4th quarter. Van ECK Associates Corp now owns 8,194 shares of the company’s stock worth $1,265,000 after buying an additional 3,886 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Snowflake by 240.2% in the fourth quarter. V Square Quantitative Management LLC now owns 888 shares of the company’s stock valued at $139,000 after acquiring an additional 627 shares in the last quarter. Finally, Principal Securities Inc. grew its holdings in shares of Snowflake by 50.2% in the fourth quarter. Principal Securities Inc. now owns 7,418 shares of the company’s stock valued at $1,145,000 after acquiring an additional 2,478 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Up 0.4%

SNOW opened at $209.11 on Tuesday. The business’s fifty day simple moving average is $178.06 and its 200 day simple moving average is $170.98. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $214.83. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market cap of $69.82 billion, a PE ratio of -61.68 and a beta of 1.21.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS. As a group, research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on Snowflake from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 6th. Mizuho lifted their target price on Snowflake from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Macquarie increased their price target on shares of Snowflake from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, June 4th. Scotiabank restated an “outperform” rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Daiwa Capital Markets began coverage on shares of Snowflake in a research note on Tuesday, April 1st. They issued a “buy” rating and a $210.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $223.50.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 7,908 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the completion of the sale, the executive vice president now directly owns 600,632 shares in the company, valued at $92,899,751.44. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 892,277 shares of company stock valued at $169,052,217 over the last quarter. 6.80% of the stock is owned by corporate insiders.

Snowflake Company Profile

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.