B & T Capital Management DBA Alpha Capital Management Boosts Holdings in Snowflake Inc. (NYSE:SNOW)

B & T Capital Management DBA Alpha Capital Management grew its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,812 shares of the company's stock after acquiring an additional 2,557 shares during the quarter. B & T Capital Management DBA Alpha Capital Management's holdings in Snowflake were worth $5,819,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SNOW. Norges Bank bought a new position in shares of Snowflake during the fourth quarter valued at $988,950,000. FMR LLC grew its position in shares of Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. GQG Partners LLC bought a new position in Snowflake during the fourth quarter valued at approximately $750,572,000. Geode Capital Management LLC boosted its stake in Snowflake by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after buying an additional 15,314 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of 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. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Performance

SNOW stock traded down $3.78 during mid-day trading on Friday, hitting $210.64. 3,867,733 shares of the company were exchanged, compared to its average volume of 6,016,131. The business has a 50 day simple moving average of $203.53 and a 200-day simple moving average of $177.02. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $70.32 billion, a PE ratio of -50.03 and a beta of 1.22. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $226.60.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for 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%. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. On average, equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 424,852 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the sale, the director directly owned 165,507 shares in the company, valued at approximately $36,303,960.45. This represents a 71.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Scarpelli sold 400,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the sale, the chief financial officer owned 292,610 shares in the company, valued at $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,718,258 shares of company stock worth $589,762,906 over the last quarter. Company insiders own 6.80% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SNOW shares. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Monness Crespi & Hardt lifted their target price on Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Evercore ISI reaffirmed a "buy" rating on shares of Snowflake in a research report on Wednesday, June 4th. Morgan Stanley began coverage on Snowflake in a research report on Tuesday, June 24th. They set an "overweight" rating and a $262.00 target price for the company. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Snowflake in a research report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $225.36.

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.