Consolidated Investment Group LLC Acquires New Holdings in Snowflake Inc. (NYSE:SNOW)

Consolidated Investment Group LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,900 shares of the company's stock, valued at approximately $1,009,000.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in Snowflake in the 4th quarter valued at $988,950,000. FMR LLC raised its position in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. GQG Partners LLC purchased a new stake in Snowflake in the 4th quarter valued at $750,572,000. Geode Capital Management LLC raised its position in Snowflake by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after purchasing an additional 15,314 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Snowflake by 124.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after purchasing an additional 2,200,406 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 7,294 shares of Snowflake stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $208.00, for a total transaction of $1,517,152.00. Following the sale, the director now directly owns 170,718 shares in the company, valued at $35,509,344. The trade was a 4.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 2,610 shares of Snowflake stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $209.87, for a total transaction of $547,760.70. Following the sale, the executive vice president now owns 557,336 shares in the company, valued at approximately $116,968,106.32. This represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 597,248 shares of company stock worth $121,549,799. 6.80% of the stock is owned by insiders.

Snowflake Stock Performance

Snowflake stock traded down $1.35 during mid-day trading on Wednesday, reaching $221.79. The company's stock had a trading volume of 3,547,127 shares, compared to its average volume of 6,147,326. The firm has a market cap of $74.05 billion, a price-to-earnings ratio of -52.68 and a beta of 1.21. The business has a 50 day moving average price of $186.03 and a 200-day moving average price of $172.43. 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 twelve month low of $107.13 and a twelve month high of $225.53.

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, topping analysts' consensus estimates of $0.22 by $0.02. The firm 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%. The firm's revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. Sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

SNOW has been the subject of several research reports. JMP Securities reiterated a "market outperform" rating and issued a $245.00 price target on shares of Snowflake in a research report on Wednesday, June 4th. Hsbc Global Res downgraded shares of Snowflake from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Cowen restated a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Stifel Nicolaus upped their price objective on shares of Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Cantor Fitzgerald upped their price objective on shares of Snowflake from $183.00 to $242.00 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, six have assigned a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and an average target price of $225.22.

About Snowflake

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.