B. Riley Wealth Advisors Inc. Buys 7,986 Shares of Snowflake Inc. (NYSE:SNOW)

B. Riley Wealth Advisors Inc. increased its stake in Snowflake Inc. (NYSE:SNOW) by 38.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,958 shares of the company’s stock after purchasing an additional 7,986 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Snowflake were worth $5,763,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP raised its holdings in shares of Snowflake by 266.3% in the 4th quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock worth $2,089,000 after buying an additional 7,633 shares in the last quarter. Congress Wealth Management LLC DE acquired a new stake in shares of Snowflake in the 4th quarter valued at $232,000. Rakuten Securities Inc. bought a new stake in shares of Snowflake in the 4th quarter worth about $790,000. Sequoia Financial Advisors LLC increased its position in shares of Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after purchasing an additional 3,152 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in Snowflake by 14.1% during the 4th quarter. Corient Private Wealth LLC now owns 18,904 shares of the company’s stock valued at $3,762,000 after purchasing an additional 2,332 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the transaction, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Snowflake news, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the transaction, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the completion of the sale, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Insiders sold a total of 39,862 shares of company stock valued at $5,895,712 in the last quarter. 7.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SNOW. Mizuho lowered their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Robert W. Baird lowered their price objective on shares of Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. BNP Paribas upgraded shares of 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. Canaccord Genuity Group lowered their price target on shares of Snowflake from $230.00 to $215.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Snowflake in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.92.

Snowflake Trading Up 2.8 %

NYSE:SNOW opened at $130.67 on Tuesday. The company has a 50-day moving average price of $150.03 and a 200-day moving average price of $176.93. The stock has a market cap of $43.75 billion, a price-to-earnings ratio of -46.67 and a beta of 0.85. Snowflake Inc. has a 12 month low of $124.69 and a 12 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 for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The business had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Equities analysts forecast that Snowflake Inc. will post -2.27 EPS for the current fiscal year.

Snowflake 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.