Teamwork Financial Advisors LLC Acquires Shares of 2,791 Snowflake Inc. (NYSE:SNOW)

Teamwork Financial Advisors LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,791 shares of the company's stock, valued at approximately $408,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in Snowflake by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after acquiring an additional 8,857 shares during the period. Stephens Consulting LLC boosted its holdings in Snowflake by 7,407.4% during the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock valued at $313,000 after purchasing an additional 2,000 shares in the last quarter. Kirtland Hills Capital Management LLC grew its stake in shares of Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock valued at $2,458,000 after purchasing an additional 4,559 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Snowflake by 455.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock worth $19,174,000 after buying an additional 101,806 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda acquired a new position in shares of Snowflake in the 4th quarter worth approximately $3,088,000. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on SNOW. Barclays reaffirmed an "overweight" rating and issued a $219.00 target price (up previously from $203.00) on shares of Snowflake in a report on Thursday, May 22nd. Citigroup reiterated an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $205.00 target price on shares of Snowflake in a research note on Monday, May 19th. Oppenheimer reissued an "outperform" rating and set a $225.00 price target (up from $210.00) on shares of Snowflake in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Snowflake from $210.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Snowflake has an average rating of "Moderate Buy" and an average price target of $221.28.

Snowflake Stock Up 0.2%

NYSE:SNOW traded up $0.39 on Thursday, hitting $209.99. 5,229,333 shares of the company's stock were exchanged, compared to its average volume of 6,404,525. The firm has a 50-day moving average price of $166.87 and a 200-day moving average price of $168.02. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $214.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market cap of $70.11 billion, a P/E ratio of -61.94 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. Snowflake's revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share. As a group, analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Activity

In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction 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 sale, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the transaction, the director now directly owns 192,511 shares of the company's stock, valued at approximately $28,345,319.64. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 849,779 shares of company stock valued at $159,318,643. 6.80% of the stock is owned by insiders.

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.