Snowflake Inc. (NYSE:SNOW) Shares Purchased by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. grew its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,999 shares of the company's stock after buying an additional 1,371 shares during the period. Capital Investment Services of America Inc.'s holdings in Snowflake were worth $14,762,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP boosted its position in Snowflake by 9.8% during the 4th quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after buying an additional 59 shares during the period. Gabelli Funds LLC raised its stake in shares of Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after acquiring an additional 65 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after acquiring an additional 69 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after acquiring an additional 74 shares during the last quarter. Finally, Landscape Capital Management L.L.C. raised its stake in shares of Snowflake by 3.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 2,627 shares of the company's stock valued at $406,000 after acquiring an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 3,765 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total transaction of $586,172.85. Following the transaction, the executive vice president now owns 616,602 shares in the company, valued at $95,998,765.38. The trade was a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Scarpelli sold 400,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the transaction, the chief financial officer now owns 292,610 shares in the company, valued at $60,090,389.60. This trade represents a 57.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 903,058 shares of company stock worth $170,730,711 over the last quarter. Insiders own 6.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Daiwa America upgraded shares of Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Morgan Stanley restated an "equal weight" rating on shares of Snowflake in a report on Thursday, May 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Oppenheimer increased their price target on shares of Snowflake from $225.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $223.50.

Snowflake Price Performance

NYSE:SNOW traded down $3.14 during trading hours on Friday, hitting $208.14. 3,634,177 shares of the stock traded hands, compared to its average volume of 6,258,841. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $214.83. The company has a market cap of $69.49 billion, a price-to-earnings ratio of -61.40 and a beta of 1.21. The stock has a 50 day moving average price of $176.54 and a 200 day moving average price of $170.78.

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, 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company's revenue for the quarter was up 25.8% on a year-over-year basis. Sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Snowflake Company Profile

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.