Sigma Planning Corp Increases Stake in Snowflake Inc. $SNOW

Sigma Planning Corp grew its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 125.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,924 shares of the company’s stock after purchasing an additional 3,855 shares during the quarter. Sigma Planning Corp’s holdings in Snowflake were worth $1,521,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Grey Fox Wealth Advisors LLC purchased a new position in Snowflake in the 3rd quarter valued at approximately $25,000. SJS Investment Consulting Inc. boosted its stake in Snowflake by 4,333.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock worth $30,000 after purchasing an additional 130 shares during the period. GoalVest Advisory LLC boosted its stake in Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares during the period. Physician Wealth Advisors Inc. grew its holdings in Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after buying an additional 51 shares in the last quarter. Finally, HHM Wealth Advisors LLC increased its position in shares of Snowflake by 50.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after buying an additional 50 shares during the period. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Snowflake from $268.00 to $245.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Mizuho lowered their target price on shares of Snowflake from $285.00 to $220.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. BTIG Research cut their price target on shares of Snowflake from $312.00 to $235.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a report on Wednesday, February 18th. Finally, Scotiabank lowered their price objective on Snowflake from $290.00 to $205.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $242.19.

Insider Activity

In other news, SVP Vivek Raghunathan sold 3,876 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $152.80, for a total value of $592,252.80. Following the completion of the transaction, the senior vice president directly owned 273,323 shares in the company, valued at approximately $41,763,754.40. This represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Emily Ho sold 2,141 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $173.97, for a total value of $372,469.77. Following the transaction, the chief accounting officer owned 44,553 shares in the company, valued at $7,750,885.41. This trade represents a 4.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 384,313 shares of company stock valued at $65,506,880. 6.80% of the stock is owned by insiders.

Snowflake Price Performance

SNOW stock opened at $141.28 on Monday. The firm has a 50 day simple moving average of $158.11 and a two-hundred day simple moving average of $202.46. The stock has a market cap of $48.84 billion, a PE ratio of -35.77 and a beta of 1.08. Snowflake Inc. has a one year low of $118.30 and a one year high of $280.67. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm posted $0.30 EPS. The firm’s revenue was up 30.1% compared to the same quarter last year. On average, analysts predict that Snowflake Inc. will post -2.16 EPS for the current fiscal year.

About Snowflake

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.