Lyell Wealth Management LP Has $13.28 Million Stock Position in Snowflake Inc. $SNOW

Lyell Wealth Management LP boosted its stake in Snowflake Inc. (NYSE:SNOW) by 3.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 60,560 shares of the company’s stock after buying an additional 2,206 shares during the period. Lyell Wealth Management LP’s holdings in Snowflake were worth $13,284,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. GoalVest Advisory LLC grew its stake in Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after buying an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. grew its stake in Snowflake by 56.0% in 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 during the last quarter. HHM Wealth Advisors LLC grew its stake in Snowflake by 50.0% in the 4th 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 last quarter. Ameriflex Group Inc. grew its stake in Snowflake by 252.2% in the 3rd quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock valued at $37,000 after buying an additional 116 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new position in Snowflake in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity

In related news, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $245.21, for a total transaction of $98,819.63. Following the sale, the director owned 22,106 shares in the company, valued at approximately $5,420,612.26. This trade represents a 1.79% decrease in their position. The transaction 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 Mark Garrett sold 100,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the sale, the director owned 8,801 shares in the company, valued at $2,200,250. This represents a 91.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,589,550 shares of company stock worth $359,438,410. Insiders own 4.80% of the company’s stock.

Snowflake Stock Performance

NYSE SNOW opened at $240.31 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $83.29 billion, a price-to-earnings ratio of -68.27 and a beta of 1.35. The firm’s 50 day simple moving average is $172.06 and its 200 day simple moving average is $189.92. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. As a group, research analysts expect that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SNOW shares. Monness Crespi & Hardt upped their price target on shares of Snowflake from $282.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Raymond James Financial reissued an “outperform” rating and issued a $275.00 price objective on shares of Snowflake in a report on Thursday, May 28th. Sanford C. Bernstein increased their target price on shares of Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a research report on Thursday, May 28th. Truist Financial increased their target price on shares of Snowflake from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Morgan Stanley increased their target price on shares of Snowflake from $245.00 to $300.00 and gave the stock an “overweight” rating in a research 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 issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $291.77.

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.