DekaBank Deutsche Girozentrale Grows Holdings in Snowflake Inc. (NYSE:SNOW)

DekaBank Deutsche Girozentrale raised its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,100 shares of the company's stock after purchasing an additional 11,880 shares during the period. DekaBank Deutsche Girozentrale owned about 0.07% of Snowflake worth $33,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in Snowflake by 9.8% in the 4th quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after purchasing an additional 59 shares in the last quarter. Gabelli Funds LLC lifted its holdings in Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after purchasing an additional 65 shares in the last quarter. Archford Capital Strategies LLC lifted its holdings in Snowflake by 1.9% in the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock valued at $527,000 after purchasing an additional 68 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in Snowflake by 8.9% in the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock valued at $122,000 after purchasing an additional 68 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Snowflake by 21.8% in the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after purchasing an additional 74 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Frank Slootman sold 424,852 shares of the business's stock in a transaction 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 completion of the transaction, the director owned 165,507 shares of the company's stock, valued at approximately $36,303,960.45. The trade was a 71.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 directly owned 292,610 shares of the company's stock, valued at approximately $60,090,389.60. This trade represents a 57.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,718,258 shares of company stock valued at $589,762,906. 6.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNOW. Robert W. Baird increased their price objective on shares of Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. KeyCorp reiterated an "overweight" rating on shares of Snowflake in a report on Wednesday, June 25th. DA Davidson reiterated a "buy" rating and set a $250.00 price objective on shares of Snowflake in a report on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating and set a $215.00 price objective (up from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Finally, JMP Securities reiterated a "market outperform" rating and set a $245.00 price objective on shares of Snowflake in a report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $225.36.

Snowflake Stock Performance

Snowflake stock opened at $221.61 on Thursday. The company has a market cap of $73.99 billion, a PE ratio of -52.64 and a beta of 1.22. The company has a fifty day moving average price of $201.70 and a two-hundred day moving average price of $176.33. 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 12 month low of $107.13 and a 12 month high of $226.60.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS 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 the consensus estimate 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 revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. Research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current 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.

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