Octavia Wealth Advisors LLC Invests $249,000 in Snowflake Inc. (NYSE:SNOW)

Octavia Wealth Advisors LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,252 shares of the company’s stock, valued at approximately $249,000.

Other institutional investors have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Snowflake in the 3rd quarter valued at approximately $458,000. Sequoia Financial Advisors LLC lifted its stake in Snowflake by 209.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after buying an additional 3,152 shares in the last quarter. Glynn Capital Management LLC lifted its stake in Snowflake by 3.1% in the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock valued at $28,786,000 after buying an additional 5,629 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Snowflake by 55.9% during the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock worth $58,802,000 after purchasing an additional 105,937 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Snowflake by 53.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,442 shares of the company’s stock worth $1,083,000 after purchasing an additional 1,890 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 1.1 %

Shares of NYSE SNOW opened at $150.28 on Wednesday. The firm’s 50-day moving average price is $182.44 and its two-hundred day moving average price is $179.47. Snowflake Inc. has a 52-week low of $135.26 and a 52-week high of $237.72. The stock has a market capitalization of $50.22 billion, a P/E ratio of -58.93 and a beta of 0.91.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The firm had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. As a group, equities research analysts expect that Snowflake Inc. will post -1.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of recent analyst reports. Wedbush increased their price target on Snowflake from $144.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Canaccord Genuity Group reissued a “buy” rating and set a $230.00 price target on shares of Snowflake in a research note on Thursday, February 29th. Piper Sandler restated an “overweight” rating and set a $250.00 price objective on shares of Snowflake in a report on Tuesday, February 27th. Raymond James upped their price objective on Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Stifel Nicolaus dropped their price objective on Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $202.00.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the sale, the insider now owns 70,665 shares in the company, valued at $11,406,744.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the transaction, the insider now owns 70,665 shares in the company, valued at $11,406,744.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Christopher William Degnan sold 2,346 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total transaction of $476,894.88. Following the transaction, the executive now owns 102,007 shares in the company, valued at approximately $20,735,982.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,055 shares of company stock worth $36,633,917. 8.30% of the stock is owned by company insiders.

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.