Lido Advisors LLC Has $18.09 Million Stock Holdings in Snowflake Inc. $SNOW

Lido Advisors LLC lifted its position in Snowflake Inc. (NYSE:SNOW) by 281.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 119,963 shares of the company’s stock after purchasing an additional 88,503 shares during the quarter. Lido Advisors LLC’s holdings in Snowflake were worth $18,093,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new stake in Snowflake during the fourth quarter worth about $28,000. Greenline Wealth Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth approximately $29,000. Physician Wealth Advisors Inc. grew its position in Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after acquiring an additional 51 shares during the last quarter. MV Capital Management Inc. acquired a new stake in Snowflake during the 4th quarter valued at $32,000. Finally, HHM Wealth Advisors LLC increased its holdings in Snowflake by 50.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $265.27 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The stock has a market cap of $91.94 billion, a P/E ratio of -75.36 and a beta of 1.35. The stock’s 50-day moving average price is $236.90 and its two-hundred day moving average price is $194.86.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.Snowflake’s revenue was up 33.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. On average, equities analysts predict that Snowflake Inc. will post -1.84 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Rosenblatt Securities increased their price target on shares of Snowflake from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Jefferies Financial Group upped their price objective on Snowflake from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Monday. Bank of America upped their price objective on Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Citizens Jmp reissued a “market outperform” rating and issued a $325.00 target price on shares of Snowflake in a research note on Tuesday, May 19th. Finally, KeyCorp boosted their target price on Snowflake from $285.00 to $325.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Thirty-four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $296.27.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $141.60, for a total transaction of $7,127,860.80. Following the completion of the transaction, the director owned 28,556 shares in the company, valued at approximately $4,043,529.60. The trade was a 63.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the sale, the director directly owned 8,801 shares of the company’s stock, valued at $2,200,250. The trade was a 91.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,802,015 shares of company stock worth $421,739,629. 4.80% of the stock is currently owned by company insiders.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.