ICA Group Wealth Management LLC Purchases 554 Shares of Snowflake Inc. (NYSE:SNOW)

ICA Group Wealth Management LLC increased its stake in Snowflake Inc. (NYSE:SNOW) by 31.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,319 shares of the company’s stock after purchasing an additional 554 shares during the period. ICA Group Wealth Management LLC’s holdings in Snowflake were worth $461,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Provence Wealth Management Group acquired a new stake in Snowflake during the 3rd quarter worth $30,000. FinTrust Capital Advisors LLC grew its holdings in Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after acquiring an additional 128 shares during the period. M&R Capital Management Inc. grew its holdings in Snowflake by 100.0% during the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after acquiring an additional 100 shares during the period. Parkside Financial Bank & Trust grew its holdings in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after acquiring an additional 52 shares during the period. Finally, Quarry LP grew its holdings in Snowflake by 320.0% during the 4th quarter. Quarry LP now owns 210 shares of the company’s stock worth $42,000 after acquiring an additional 160 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $130.67 on Tuesday. The stock has a market capitalization of $43.75 billion, a price-to-earnings ratio of -46.67 and a beta of 0.85. The business has a 50-day moving average of $150.03 and a 200-day moving average of $176.93. Snowflake Inc. has a fifty-two week low of $124.69 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $786.95 million. On average, sell-side analysts expect that Snowflake Inc. will post -2.27 EPS for the current year.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 target price on shares of Snowflake in a report on Thursday, June 6th. Royal Bank of Canada lowered their target price on shares of Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Barclays lifted their target price on shares of Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a report on Thursday, May 23rd. Canaccord Genuity Group lowered their price objective on shares of Snowflake from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, HSBC restated a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $198.92.

Insider Activity at Snowflake

In other news, CEO Sridhar Ramaswamy bought 31,542 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were 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 in the company, valued at $121,053,288.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the transaction, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 39,862 shares of company stock worth $5,895,712. Insiders own 7.80% of the company’s stock.

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.