Diversify Wealth Management LLC Acquires 98,172 Shares of Snowflake Inc. $SNOW

Diversify Wealth Management LLC lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 395.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,007 shares of the company’s stock after acquiring an additional 98,172 shares during the quarter. Diversify Wealth Management LLC’s holdings in Snowflake were worth $17,371,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SNOW. Kemnay Advisory Services Inc. acquired a new stake in Snowflake during the 4th quarter valued at $28,000. Greenline Wealth Management LLC acquired a new position in shares of Snowflake in the fourth quarter valued at $29,000. GoalVest Advisory LLC raised its position in shares of Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after purchasing an additional 93 shares during the period. Physician Wealth Advisors Inc. raised its position in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after purchasing an additional 51 shares during the period. Finally, MV Capital Management Inc. acquired a new stake in shares of Snowflake during the 4th quarter worth about $32,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNOW. Citigroup lifted their target price on shares of Snowflake from $260.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Oppenheimer raised their price objective on shares of Snowflake from $250.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Citizens Jmp restated a “market outperform” rating and set a $325.00 price objective on shares of Snowflake in a report on Tuesday, May 19th. Benchmark upped their target price on Snowflake from $200.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Snowflake from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $293.53.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 2,500 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $258.56, for a total transaction of $646,400.00. Following the sale, the executive vice president owned 397,879 shares in the company, valued at approximately $102,875,594.24. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Teresa Briggs sold 343 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $255.11, for a total transaction of $87,502.73. Following the transaction, the director owned 5,060 shares of the company’s stock, valued at approximately $1,290,856.60. This represents a 6.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,802,015 shares of company stock worth $421,739,629 in the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW traded down $5.92 during trading hours on Friday, hitting $261.56. 4,139,738 shares of the company were exchanged, compared to its average volume of 6,159,552. The company has a market cap of $90.66 billion, a price-to-earnings ratio of -74.31 and a beta of 1.35. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm’s fifty day moving average is $214.78 and its 200 day moving average is $191.99.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.Snowflake’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, equities analysts anticipate that Snowflake Inc. will post -1.84 earnings per share for the current fiscal 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.