Calamos Advisors LLC Has $23.74 Million Stock Holdings in Snowflake Inc. $SNOW

Calamos Advisors LLC raised its holdings in Snowflake Inc. (NYSE:SNOW) by 9.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 106,078 shares of the company’s stock after acquiring an additional 9,097 shares during the quarter. Calamos Advisors LLC’s holdings in Snowflake were worth $23,737,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNOW. Capital Advantage Inc. boosted its stake in Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after acquiring an additional 48 shares in the last quarter. Wedbush Securities Inc. increased its stake in Snowflake by 1.3% in the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after purchasing an additional 48 shares in the last quarter. Avion Wealth raised its holdings in shares of Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares during the period. Advyzon Investment Management LLC raised its holdings in shares of Snowflake by 3.8% during the second quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock valued at $340,000 after purchasing an additional 55 shares during the period. Finally, Ignite Planners LLC boosted its position in shares of Snowflake by 2.3% during the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock worth $418,000 after purchasing an additional 64 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley boosted their target price on Snowflake from $262.00 to $272.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Monness Crespi & Hardt upped their target price on Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. lifted their price target on shares of Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, October 8th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $259.89.

Insider Activity at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $257.29, for a total transaction of $103,687.87. Following the sale, the director directly owned 24,927 shares of the company’s stock, valued at $6,413,467.83. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 931,388 shares of company stock worth $216,578,628. Company insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $269.36 on Thursday. The business’s 50 day simple moving average is $242.71 and its 200 day simple moving average is $217.47. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The company has a market cap of $91.26 billion, a price-to-earnings ratio of -64.91 and a beta of 1.23. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company posted $0.18 earnings per share. The business’s revenue was up 31.8% on a year-over-year basis. Sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS 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, as well as applies artificial intelligence (AI) for solving business problems.