Snowflake Inc. $SNOW Shares Purchased by Archer Investment Corp

Archer Investment Corp lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 5,056.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,713 shares of the company’s stock after purchasing an additional 3,641 shares during the period. Archer Investment Corp’s holdings in Snowflake were worth $560,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Kemnay Advisory Services Inc. acquired a new position in Snowflake during the fourth quarter worth $28,000. Greenline Wealth Management LLC acquired a new position in Snowflake in the fourth quarter valued at $29,000. GoalVest Advisory LLC grew its stake in shares of Snowflake by 221.4% during the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after buying an additional 93 shares during the period. Physician Wealth Advisors Inc. raised its position in 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 fourth quarter valued at about $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

Snowflake stock opened at $268.81 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $93.17 billion, a P/E ratio of -76.37 and a beta of 1.35. The business’s fifty day moving average is $217.43 and its two-hundred day moving average is $192.05. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SNOW shares. Weiss Ratings lowered shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Citizens Jmp restated a “market outperform” rating and issued a $325.00 price objective on shares of Snowflake in a report on Tuesday, May 19th. Evercore set a $200.00 target price on shares of Snowflake in a research report on Tuesday, April 14th. Bank of America boosted their price objective on shares of Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, KeyCorp set a $295.00 price objective on shares of Snowflake in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.53.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 2,500 shares of the business’s stock in a transaction dated 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 directly owned 397,879 shares of the company’s stock, valued at $102,875,594.24. The trade was a 0.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Emily Ho sold 1,860 shares of Snowflake stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $232.25, for a total transaction of $431,985.00. Following the completion of the transaction, the chief accounting officer directly owned 41,283 shares of the company’s stock, valued at approximately $9,587,976.75. This trade represents a 4.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,802,015 shares of company stock worth $421,739,629 in the last quarter. Company insiders own 4.80% of the company’s stock.

Snowflake 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.