Parisi Gray Wealth Management Raises Stock Position in Snowflake Inc. (NYSE:SNOW)

Parisi Gray Wealth Management raised its position in Snowflake Inc. (NYSE:SNOW) by 11.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,903 shares of the company’s stock after purchasing an additional 202 shares during the period. Parisi Gray Wealth Management’s holdings in Snowflake were worth $379,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in Snowflake by 333.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Snowflake by 822.2% during the first quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock worth $38,000 after acquiring an additional 148 shares during the last quarter. VitalStone Financial LLC boosted its holdings in Snowflake by 616.0% in the 2nd quarter. VitalStone Financial LLC now owns 179 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares during the last quarter. Ulland Investment Advisors LLC boosted its holdings in Snowflake by 270.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after purchasing an additional 135 shares during the last quarter. Finally, Provence Wealth Management Group acquired a new position in Snowflake in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of Snowflake stock traded up $5.43 during midday trading on Thursday, hitting $165.47. The company had a trading volume of 2,390,178 shares, compared to its average volume of 7,008,247. The business’s 50 day simple moving average is $195.94 and its two-hundred day simple moving average is $179.43. The stock has a market cap of $54.49 billion, a PE ratio of -62.76 and a beta of 0.94. Snowflake Inc. has a 1-year low of $135.26 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.80%. The business had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. On average, sell-side analysts expect that Snowflake Inc. will post -1.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SNOW shares. UBS Group boosted their target price on shares of Snowflake from $185.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. JMP Securities upped their price objective on shares of Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a report on Thursday, February 29th. Royal Bank of Canada decreased their price objective on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Wells Fargo & Company upped their price objective on shares of Snowflake from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, November 30th. Finally, Stifel Nicolaus reduced their target price on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.50.

Insiders Place Their Bets

In related news, CEO Sridhar Ramaswamy acquired 31,542 shares of the business’s stock in a transaction on Monday, March 25th. The stock was bought at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now owns 31,542 shares in the company, valued at $5,000,037.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Snowflake news, CEO Sridhar Ramaswamy purchased 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, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $190.00, for a total value of $285,000.00. Following the completion of the transaction, the senior vice president now directly owns 756,567 shares of the company’s stock, valued at $143,747,730. The disclosure for this sale can be found here. Insiders have sold 184,355 shares of company stock worth $37,679,411 over the last 90 days. Corporate insiders own 8.30% 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.