Sargent Investment Group LLC Takes Position in Snowflake Inc. $SNOW

Sargent Investment Group LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,862 shares of the company’s stock, valued at approximately $1,067,000.

Other large investors have also recently made changes to their positions in the company. Greenline Wealth Management LLC purchased a new stake in shares of Snowflake during the fourth quarter valued at $29,000. GoalVest Advisory LLC boosted its holdings in 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 last quarter. Physician Wealth Advisors Inc. boosted its holdings 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 last quarter. HHM Wealth Advisors LLC boosted its holdings in Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. Finally, Ameriflex Group Inc. boosted its holdings in Snowflake by 252.2% in the third quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock valued at $37,000 after purchasing an additional 116 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNOW has been the topic of several recent research reports. Piper Sandler upped their price target on shares of Snowflake from $295.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Zacks Research raised shares of Snowflake from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. BTIG Research upped their price target on shares of Snowflake from $280.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. TD Cowen reaffirmed a “buy” rating and issued a $300.00 price target on shares of Snowflake in a report on Wednesday, June 3rd. Finally, Wells Fargo & Company upped their price target on shares of Snowflake from $210.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $291.77.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 437,076 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the completion of the transaction, the director owned 38,046 shares in the company, valued at approximately $9,603,951.78. This represents a 91.99% decrease in their ownership of the stock. The sale 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 Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the completion of the transaction, the director owned 29,396 shares of the company’s stock, valued at approximately $4,356,781.16. This trade represents a 63.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,589,550 shares of company stock worth $359,438,410. Company insiders own 4.80% of the company’s stock.

Snowflake Trading Down 0.2%

Shares of Snowflake stock opened at $232.38 on Monday. The firm has a 50-day simple moving average of $173.64 and a two-hundred day simple moving average of $189.84. The company has a market cap of $80.54 billion, a P/E ratio of -66.02 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 debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping 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 net margin of 23.79% and a negative return on equity of 50.50%. The company’s revenue was up 33.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. As a group, equities analysts predict that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

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.