Aristotle Atlantic Partners LLC Increases Position in Snowflake Inc. $SNOW

Aristotle Atlantic Partners LLC grew its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 53.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,913 shares of the company's stock after buying an additional 4,153 shares during the quarter. Aristotle Atlantic Partners LLC's holdings in Snowflake were worth $1,797,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SNOW. Kemnay Advisory Services Inc. purchased a new stake in Snowflake in the 4th quarter valued at $28,000. Greenline Wealth Management LLC purchased a new position in shares of Snowflake in the 4th quarter valued at about $29,000. Physician Wealth Advisors Inc. grew its stake in shares of Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock worth $31,000 after purchasing an additional 51 shares in the last quarter. Emerald Advisers LLC increased its stake in Snowflake by 95.2% in the first quarter. Emerald Advisers LLC now owns 205 shares of the company's stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new stake in shares of Snowflake during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on SNOW. Citigroup upped their price target on Snowflake from $260.00 to $320.00 and gave the stock a "buy" rating in a research note on Friday, May 29th. UBS Group reissued a "buy" rating on shares of Snowflake in a research note on Monday, June 22nd. Truist Financial raised their price target on Snowflake from $275.00 to $300.00 and gave the company a "buy" rating in a report on Friday, June 5th. Canaccord Genuity Group lifted their price target on Snowflake from $240.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Finally, Jefferies Financial Group increased their price objective on Snowflake from $300.00 to $310.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Thirty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $296.27.

Insider Transactions at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of Snowflake stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the transaction, the director directly owned 8,801 shares of the company's stock, valued at $2,200,250. The trade was a 91.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $141.60, for a total transaction of $7,127,860.80. Following the sale, the director owned 28,556 shares of the company's stock, valued at approximately $4,043,529.60. This represents a 63.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,802,015 shares of company stock worth $421,739,629 in the last three months. 4.80% of the stock is currently owned by company insiders.

Snowflake Stock Up 1.1%

SNOW opened at $268.15 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $92.94 billion, a price-to-earnings ratio of -76.18 and a beta of 1.35. The business has a 50-day moving average of $239.11 and a two-hundred day moving average of $195.38. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business's quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. On average, research analysts expect that Snowflake Inc. will post -1.84 earnings per share for the current year.

Snowflake Company 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.

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.