1,527 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Brookwood Investment Group LLC

Key Points

• Brookwood Investment Group LLC acquired a new stake in Snowflake Inc., purchasing 1,527 shares valued at approximately $223,000 in the first quarter.
• Snowflake's recent quarterly earnings showed a revenue of $1.04 billion, surpassing analyst expectations, and reported an EPS of $0.24, beating estimates by $0.02.
• Insider activity included significant sales, with CFO Michael Scarpelli selling 400,000 shares for about $82 million, leading to a 57.75% decrease in his ownership of the stock.

Brookwood Investment Group LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,527 shares of the company's stock, valued at approximately $223,000.

Several other large investors have also made changes to their positions in SNOW. Machina Capital S.A.S. grew its position in Snowflake by 31.2% during the 1st quarter. Machina Capital S.A.S. now owns 4,811 shares of the company's stock worth $703,000 after acquiring an additional 1,145 shares during the last quarter. Black Swift Group LLC boosted its position in Snowflake by 283.1% in the 1st quarter. Black Swift Group LLC now owns 20,115 shares of the company's stock valued at $2,940,000 after buying an additional 14,865 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of Snowflake in the 1st quarter valued at $310,000. Wedbush Securities Inc. lifted its stake in shares of Snowflake by 31.0% in the 1st quarter. Wedbush Securities Inc. now owns 3,669 shares of the company's stock valued at $536,000 after purchasing an additional 869 shares during the period. Finally, Triumph Capital Management lifted its stake in shares of Snowflake by 59.7% in the 1st quarter. Triumph Capital Management now owns 12,304 shares of the company's stock valued at $1,798,000 after purchasing an additional 4,598 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 100,483 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $223.55, for a total value of $22,462,974.65. Following the completion of the sale, the director owned 165,507 shares in the company, valued at approximately $36,999,089.85. This trade represents a 37.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $221.47, for a total transaction of $89,252.41. Following the transaction, the director directly owned 26,539 shares of the company's stock, valued at $5,877,592.33. This represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,708,258 shares of company stock worth $588,162,906. 6.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNOW. Scotiabank reaffirmed an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Royal Bank Of Canada raised their price objective on Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Robert W. Baird raised their price objective on Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and set a $219.00 price objective (up previously from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. Finally, UBS Group raised Snowflake from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $210.00 to $265.00 in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $226.73.

Snowflake Stock Down 0.4%

Shares of NYSE SNOW traded down $0.77 during trading on Monday, hitting $218.74. 3,441,262 shares of the company traded hands, compared to its average volume of 5,105,664. The business's fifty day moving average is $211.09 and its 200 day moving average is $181.09. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $226.60. The firm has a market capitalization of $73.03 billion, a price-to-earnings ratio of -51.96 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. The business's quarterly revenue was up 25.8% compared to the same quarter last year. Equities 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.