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Caas Capital Management LP Purchases Shares of 2,100 Snowflake Inc. (NYSE:SNOW)

Snowflake logo with Computer and Technology background

Caas Capital Management LP purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,100 shares of the company's stock, valued at approximately $307,000.

A number of other large investors have also bought and sold shares of the stock. Norges Bank bought a new position in Snowflake during the 4th quarter valued at approximately $988,950,000. GQG Partners LLC purchased a new position in shares of Snowflake during the 4th quarter worth approximately $750,572,000. FMR LLC grew its holdings in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after acquiring an additional 2,805,425 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after acquiring an additional 2,200,406 shares during the period. Finally, Groupama Asset Managment grew its holdings in shares of Snowflake by 930,132.6% during the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock worth $308,820,000 after acquiring an additional 1,999,785 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

SNOW stock traded down $3.78 during mid-day trading on Friday, reaching $210.64. The company's stock had a trading volume of 3,867,733 shares, compared to its average volume of 6,016,132. The stock has a market cap of $70.32 billion, a PE ratio of -50.03 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $226.60. The company's 50 day moving average is $202.68 and its two-hundred day moving average is $176.69.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. Snowflake's quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 EPS. Equities research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In related news, CFO Michael Scarpelli sold 400,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the transaction, the chief financial officer owned 292,610 shares of the company's stock, valued at approximately $60,090,389.60. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 424,852 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the completion of the transaction, the director directly owned 165,507 shares of the company's stock, valued at $36,303,960.45. This represents a 71.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,718,258 shares of company stock worth $589,762,906. Company insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNOW shares. Citigroup reiterated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Royal Bank Of Canada upped their target price on Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating and set a $215.00 target price (up previously from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. UBS Group upgraded Snowflake from a "neutral" rating to a "buy" rating and upped their target price for the stock from $210.00 to $265.00 in a report on Wednesday, June 4th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and a consensus target price of $225.36.

Read Our Latest Stock Analysis on Snowflake

Snowflake Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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