Delap Wealth Advisory LLC Purchases New Stake in Snowflake Inc. (NYSE:SNOW)

Delap Wealth Advisory LLC bought a new position in Snowflake Inc. (NYSE:SNOW) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 1,321 shares of the company’s stock, valued at approximately $213,000.

Other large investors have also recently added to or reduced their stakes in the company. Choreo LLC increased its position in Snowflake by 18.6% in the first quarter. Choreo LLC now owns 8,267 shares of the company’s stock worth $1,336,000 after buying an additional 1,294 shares during the period. Trexquant Investment LP grew its stake in shares of Snowflake by 266.3% in the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock worth $2,089,000 after purchasing an additional 7,633 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Snowflake in the first quarter worth $244,000. Congress Wealth Management LLC DE bought a new position in shares of Snowflake in the fourth quarter worth $232,000. Finally, Riverview Trust Co bought a new position in shares of Snowflake in the first quarter worth $31,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Trading Down 0.2 %

SNOW traded down $0.27 during midday trading on Friday, reaching $129.32. The company’s stock had a trading volume of 1,629,398 shares, compared to its average volume of 6,453,681. The stock has a market cap of $43.30 billion, a P/E ratio of -46.01 and a beta of 0.85. The company has a fifty day simple moving average of $137.61 and a 200 day simple moving average of $165.55. Snowflake Inc. has a twelve month low of $122.60 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The business had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Sell-side analysts expect that Snowflake Inc. will post -2.28 earnings per share for the current year.

Analyst Ratings Changes

SNOW has been the subject of several recent analyst reports. BNP Paribas raised Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Thursday, May 2nd. Scotiabank decreased their price target on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 23rd. Piper Sandler decreased their target price on Snowflake from $240.00 to $165.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada decreased their target price on Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. Finally, Robert W. Baird decreased their target price on Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.31.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 546 shares of Snowflake stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $129.32, for a total transaction of $70,608.72. Following the sale, the executive vice president now owns 756,489 shares of the company’s stock, valued at approximately $97,829,157.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the transaction, the insider now owns 63,222 shares in the company, valued at approximately $8,112,014.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 546 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $129.32, for a total value of $70,608.72. Following the transaction, the executive vice president now owns 756,489 shares of the company’s stock, valued at approximately $97,829,157.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 533,460 shares of company stock valued at $66,963,450. 7.80% of the stock is owned by corporate insiders.

Snowflake Company 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.