SG Americas Securities LLC Acquires 60,840 Shares of Snowflake Inc. (NYSE:SNOW)

SG Americas Securities LLC boosted its stake in Snowflake Inc. (NYSE:SNOW) by 210.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,742 shares of the company’s stock after buying an additional 60,840 shares during the period. SG Americas Securities LLC’s holdings in Snowflake were worth $13,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SNOW. Brighton Jones LLC lifted its holdings in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares during the period. Apollon Wealth Management LLC lifted its holdings in Snowflake by 10.6% in the fourth quarter. Apollon Wealth Management LLC now owns 9,447 shares of the company’s stock worth $1,459,000 after buying an additional 903 shares during the period. Kingsview Wealth Management LLC lifted its holdings in Snowflake by 8.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,441 shares of the company’s stock worth $377,000 after buying an additional 195 shares during the period. Empowered Funds LLC lifted its holdings in Snowflake by 50.6% in the fourth 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 during the period. Finally, Quotient Wealth Partners LLC purchased a new stake in Snowflake in the fourth quarter worth about $244,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. The trade was a 50.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now directly owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 898,052 shares of company stock valued at $169,679,365 in the last 90 days. Company insiders own 6.80% of the company’s stock.

Snowflake Trading Down 1.2%

NYSE:SNOW opened at $208.23 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $214.83. The company has a market cap of $69.52 billion, a PE ratio of -61.42 and a beta of 1.21. The company has a 50 day simple moving average of $171.87 and a two-hundred day simple moving average of $169.99.

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

Analyst Ratings Changes

Several analysts have commented on SNOW shares. Hsbc Global Res lowered shares of Snowflake from a “hold” rating to a “strong sell” rating in a report on Thursday, May 22nd. JMP Securities reiterated a “market outperform” rating and set a $245.00 target price on shares of Snowflake in a report on Wednesday, June 4th. Mizuho lifted their target price on shares of Snowflake from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Needham & Company LLC reiterated a “buy” rating and set a $230.00 target price on shares of Snowflake in a report on Thursday, June 5th. Finally, Daiwa Capital Markets initiated coverage on shares of Snowflake in a report on Tuesday, April 1st. They set a “buy” rating and a $210.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.81.

Snowflake 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.