American Trust Buys Shares of 2,140 Snowflake Inc. (NYSE:SNOW)

American Trust acquired a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,140 shares of the company's stock, valued at approximately $330,000.

Other hedge funds have also bought and sold shares of the company. Prospect Financial Services LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $288,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after purchasing an additional 8,857 shares in the last quarter. Stephens Consulting LLC boosted its stake in Snowflake by 7,407.4% during the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock worth $313,000 after purchasing an additional 2,000 shares during the last quarter. Kirtland Hills Capital Management LLC grew its holdings in shares of Snowflake by 40.1% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock worth $2,458,000 after buying an additional 4,559 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Snowflake by 455.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock valued at $19,174,000 after buying an additional 101,806 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

SNOW has been the subject of several research reports. Bank of America upped their price objective on shares of Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Evercore ISI restated an "outperform" rating and issued a $232.00 price target (up from $200.00) on shares of Snowflake in a research report on Thursday, May 22nd. KeyCorp dropped their price target on Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Guggenheim restated a "neutral" rating on shares of Snowflake in a research report on Thursday, February 27th. Finally, UBS Group upped their price target on Snowflake from $200.00 to $210.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $217.33.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. This trade represents a 50.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 356,963 shares of company stock worth $58,204,058. Insiders own 7.80% of the company's stock.

Snowflake Stock Down 1.0%

Shares of NYSE:SNOW traded down $2.06 during trading hours on Wednesday, reaching $204.29. The stock had a trading volume of 4,357,361 shares, compared to its average volume of 6,478,468. The firm's 50 day moving average is $161.07 and its 200-day moving average is $164.98. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $209.46. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $67.44 billion, a price-to-earnings ratio of -60.26 and a beta of 1.11.

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

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.