Ashton Thomas Private Wealth LLC Boosts Holdings in Snowflake Inc. (NYSE:SNOW)

Ashton Thomas Private Wealth LLC raised its stake in Snowflake Inc. (NYSE:SNOW) by 9.3% during the first quarter, Holdings Channel reports. The fund owned 7,999 shares of the company’s stock after buying an additional 679 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Snowflake were worth $1,293,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNOW. Accent Capital Management LLC purchased a new stake in Snowflake in the 4th quarter worth about $25,000. FinTrust Capital Advisors LLC increased its stake in shares of Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after purchasing an additional 128 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Snowflake during the 1st quarter valued at approximately $31,000. M&R Capital Management Inc. boosted its holdings in Snowflake by 100.0% in the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after buying an additional 100 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in Snowflake in the 1st quarter valued at approximately $32,000. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Up 2.0 %

Shares of NYSE:SNOW traded up $2.85 during trading on Friday, reaching $145.71. 1,638,177 shares of the company traded hands, compared to its average volume of 6,598,967. Snowflake Inc. has a 52-week low of $122.60 and a 52-week high of $237.72. The firm has a market capitalization of $48.78 billion, a price-to-earnings ratio of -52.05 and a beta of 0.85. The business’s fifty day moving average is $145.02 and its 200-day moving average is $171.84.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $828.71 million for the quarter, compared to analysts’ expectations of $786.95 million. On average, sell-side analysts predict that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the topic of several recent research reports. BNP Paribas upgraded Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 target price on the stock in a research report on Thursday, May 2nd. KeyCorp raised their target price on Snowflake from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Mizuho decreased their price target on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Monness Crespi & Hardt upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Three 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.46.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 3,845 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total transaction of $501,349.55. Following the completion of the transaction, the chief accounting officer now owns 30,613 shares in the company, valued at $3,991,629.07. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the transaction, the executive vice president now directly owns 494,942 shares of the company’s stock, valued at $60,922,410.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 519,112 shares of company stock worth $64,932,073. Company insiders own 7.80% of the company’s stock.

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.