71 West Capital Partners Purchases New Shares in Snowflake Inc. $SNOW

71 West Capital Partners purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 5,205 shares of the company's stock, valued at approximately $1,142,000.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after acquiring an additional 29,320 shares in the last quarter. Intech Investment Management LLC grew its holdings in Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company's stock worth $1,637,000 after acquiring an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after acquiring an additional 73 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in Snowflake during the 2nd quarter worth $221,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Snowflake by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company's stock worth $5,055,000 after acquiring an additional 1,521 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNOW has been the subject of several recent analyst reports. Mizuho raised their price objective on shares of Snowflake from $220.00 to $295.00 and gave the stock an "outperform" rating in a report on Thursday, May 28th. Benchmark lifted their price target on shares of Snowflake from $200.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, May 28th. The Goldman Sachs Group lifted their price target on shares of Snowflake from $216.00 to $278.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Citigroup lifted their price target on shares of Snowflake from $260.00 to $320.00 and gave the company a "buy" rating in a report on Friday, May 29th. Finally, Wells Fargo & Company lifted their price target on shares of Snowflake from $210.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $291.77.

Snowflake Trading Up 3.4%

Shares of NYSE:SNOW opened at $240.61 on Tuesday. The company has a market cap of $83.40 billion, a PE ratio of -68.35 and a beta of 1.35. The company's 50-day moving average price is $175.41 and its 200 day moving average price is $189.78. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. Snowflake's quarterly revenue was up 33.5% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. Sell-side analysts anticipate that Snowflake Inc. will post -1.87 earnings per share for the current year.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 2,729 shares of Snowflake stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $239.00, for a total value of $652,231.00. Following the transaction, the executive vice president owned 413,002 shares of the company's stock, valued at $98,707,478. The trade was a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Garrett sold 100,000 shares of Snowflake stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the transaction, the director directly owned 8,801 shares in the company, valued at $2,200,250. This represents a 91.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,578,690 shares of company stock valued at $357,534,217 over the last quarter. Corporate insiders own 4.80% of the company's stock.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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