Artemis Investment Management LLP Invests $9.09 Million in Snowflake Inc. (NYSE:SNOW)

Artemis Investment Management LLP acquired a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 62,195 shares of the company's stock, valued at approximately $9,090,000.

Other large investors have also recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new position in shares of Snowflake in the 1st quarter worth approximately $898,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Snowflake by 455.1% during 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 during the period. SPX Gestao de Recursos Ltda purchased a new stake in Snowflake during the 4th quarter worth approximately $3,088,000. Deutsche Bank AG increased its stake in Snowflake by 26.0% during the 4th quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock worth $142,513,000 after buying an additional 190,583 shares during the period. Finally, Ardmore Road Asset Management LP purchased a new stake in Snowflake during the 4th quarter worth approximately $18,529,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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, CAO Emily Ho sold 1,544 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $220.98, for a total transaction of $341,193.12. Following the completion of the sale, the chief accounting officer now owns 35,100 shares of the company's stock, valued at $7,756,398. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 622,903 shares of company stock worth $127,235,701. Company insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SNOW. Morgan Stanley began coverage on shares of Snowflake in a research note on Tuesday. They set an "overweight" rating and a $262.00 target price on the stock. Robert W. Baird upped their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. KeyCorp reaffirmed an "overweight" rating on shares of Snowflake in a research note on Wednesday. Wall Street Zen raised shares of Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, CICC Research began coverage on shares of Snowflake in a research note on Friday, June 20th. They set an "outperform" rating and a $225.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.22.

Snowflake Stock Up 0.2%

Shares of NYSE:SNOW opened at $222.45 on Friday. The stock has a market cap of $74.27 billion, a P/E ratio of -52.84 and a beta of 1.21. The firm has a fifty day moving average price of $190.70 and a 200 day moving average price of $173.41. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $225.68.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share 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 analysts' expectations of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. Snowflake's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. Sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current 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.

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