Parisi Gray Wealth Management Boosts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Parisi Gray Wealth Management increased its stake in Snowflake Inc. (NYSE:SNOW) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,903 shares of the company’s stock after purchasing an additional 202 shares during the quarter. Parisi Gray Wealth Management’s holdings in Snowflake were worth $379,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingfisher Capital LLC grew its stake in shares of Snowflake by 0.4% in the 3rd quarter. Kingfisher Capital LLC now owns 14,745 shares of the company’s stock worth $2,253,000 after buying an additional 63 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Snowflake by 8.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 859 shares of the company’s stock worth $131,000 after purchasing an additional 64 shares during the period. Scotia Capital Inc. boosted its stake in shares of Snowflake by 1.1% during the 3rd quarter. Scotia Capital Inc. now owns 6,444 shares of the company’s stock worth $985,000 after purchasing an additional 69 shares during the period. Visionary Wealth Advisors boosted its stake in shares of Snowflake by 4.8% during the 2nd quarter. Visionary Wealth Advisors now owns 1,540 shares of the company’s stock worth $271,000 after purchasing an additional 70 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In related news, insider Benoit Dageville sold 689 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the transaction, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Snowflake news, SVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was 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 in the company, valued at $143,747,730. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the insider now directly owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The disclosure for this sale can be found here. Insiders sold 184,355 shares of company stock worth $37,679,411 over the last ninety days. 8.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SNOW shares. Wedbush boosted their price objective on shares of Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Redburn Atlantic restated a “sell” rating and issued a $125.00 price target (down previously from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Canaccord Genuity Group restated a “buy” rating and issued a $230.00 price target on shares of Snowflake in a report on Thursday, February 29th. Scotiabank boosted their price target on shares of Snowflake from $194.00 to $226.00 and gave the company a “sector outperform” rating in a report on Thursday, November 30th. Finally, Bank of America reduced their price target on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $202.50.

Snowflake Stock Performance

NYSE:SNOW traded up $5.43 during mid-day 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. Snowflake Inc. has a fifty-two week low of $135.26 and a fifty-two week high of $237.72. The business’s fifty day moving average is $195.94 and its two-hundred day moving average is $179.43. The firm has a market cap of $54.49 billion, a P/E ratio of -62.76 and a beta of 0.94.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.80% and a negative net margin of 29.79%. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Equities analysts forecast that Snowflake Inc. will post -1.92 earnings per share for the current 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.