2,649 Shares in Snowflake Inc. $SNOW Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd acquired 2,649 shares of Snowflake Inc. (NYSE: SNOW) valued at approximately $387,000 during the first quarter.
• Institutional investors own 65.10% of Snowflake's stock, with significant purchases made by firms like Goldman Sachs and Berkshire Capital Holdings.
• Snowflake's stock has received an average rating of "Moderate Buy" from analysts, with price targets raised by several brokerages, including a new target of $275.00 by Wells Fargo.

Bayforest Capital Ltd acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,649 shares of the company's stock, valued at approximately $387,000.

Other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after buying an additional 650,775 shares in the last quarter. CenterBook Partners LP bought a new position in Snowflake in the first quarter valued at approximately $2,381,000. Berkshire Capital Holdings Inc. lifted its stake in Snowflake by 71,500.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company's stock valued at $1,047,000 after buying an additional 7,150 shares in the last quarter. Lyell Wealth Management LP lifted its stake in Snowflake by 5.1% in the first quarter. Lyell Wealth Management LP now owns 60,685 shares of the company's stock valued at $8,870,000 after buying an additional 2,955 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Snowflake in the first quarter valued at approximately $898,000. Institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNOW. Jefferies Financial Group lifted their price target on shares of Snowflake from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a research note on Thursday, August 28th. Bank of America upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $220.00 to $240.00 in a report on Wednesday, August 20th. Loop Capital lifted their price objective on shares of Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $255.53.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 710,083 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the transaction, the director directly owned 165,507 shares in the company, valued at approximately $38,144,398.29. The trade was a 81.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 3,224,389 shares of company stock worth $719,812,350 in the last 90 days. 6.80% of the stock is currently owned by insiders.

Snowflake Price Performance

Shares of SNOW opened at $226.03 on Thursday. The company has a market cap of $75.46 billion, a price-to-earnings ratio of -54.47 and a beta of 1.22. Snowflake Inc. has a 1-year low of $108.71 and a 1-year high of $249.99. The company's fifty day simple moving average is $212.76 and its 200 day simple moving average is $188.17. The company has a current ratio of 1.48, a quick ratio of 1.58 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm's revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. On average, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.

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