Stonegate Investment Group LLC Has $214,000 Position in Snowflake Inc. (NYSE:SNOW)

Stonegate Investment Group LLC lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 14.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,461 shares of the company’s stock after selling 249 shares during the period. Stonegate Investment Group LLC’s holdings in Snowflake were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SNOW. Private Wealth Partners LLC raised its holdings in shares of Snowflake by 301.7% during the 1st quarter. Private Wealth Partners LLC now owns 10,905 shares of the company’s stock valued at $1,594,000 after purchasing an additional 8,190 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in shares of Snowflake during the 1st quarter valued at $712,000. ORG Wealth Partners LLC bought a new position in shares of Snowflake during the 1st quarter valued at $898,000. Lumbard & Kellner LLC bought a new position in shares of Snowflake during the 1st quarter valued at $3,006,000. Finally, Premier Path Wealth Partners LLC bought a new position in shares of Snowflake during the 1st quarter valued at $203,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $211.35, for a total value of $85,174.05. Following the completion of the sale, the director now owns 25,569 shares of the company’s stock, valued at approximately $5,404,008.15. This represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 7,294 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $208.00, for a total transaction of $1,517,152.00. Following the completion of the sale, the director now directly owns 170,718 shares of the company’s stock, valued at $35,509,344. The trade was a 4.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 894,638 shares of company stock worth $169,965,038 over the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Shares of Snowflake stock opened at $211.84 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The firm’s 50-day simple moving average is $183.12 and its 200-day simple moving average is $171.86. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $215.99. The firm has a market cap of $70.73 billion, a P/E ratio of -50.32 and a beta of 1.21.

Snowflake (NYSE:SNOW) last issued its earnings results 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. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $0.14 EPS. The firm’s revenue was up 25.8% on a year-over-year basis. As a group, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Sanford C. Bernstein restated a “market perform” rating on shares of Snowflake in a report on Thursday, May 22nd. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. DA Davidson restated a “buy” rating and set a $250.00 price target on shares of Snowflake in a report on Wednesday, June 4th. JPMorgan Chase & Co. lifted their target price on shares of Snowflake from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Finally, CICC Research started coverage on shares of Snowflake in a report on Friday. They issued an “outperform” rating and a $225.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average price target of $223.54.

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.