Exchange Traded Concepts LLC Grows Holdings in Snowflake Inc. (NYSE:SNOW)

Exchange Traded Concepts LLC raised its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 19.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,630 shares of the company's stock after purchasing an additional 3,240 shares during the period. Exchange Traded Concepts LLC's holdings in Snowflake were worth $2,869,000 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 increased its stake in shares of Snowflake by 3.3% during the 4th 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 increased its stake in shares of Snowflake by 0.6% during the 4th 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 increased its stake in shares of Snowflake by 21.8% during the 4th 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. increased its stake in shares of Snowflake by 3.0% during the 4th 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. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of SNOW opened at $209.11 on Tuesday. The business's fifty day moving average price is $178.06 and its 200 day moving average price is $170.98. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $214.83. The stock has a market capitalization of $69.82 billion, a PE ratio of -61.68 and a beta of 1.21. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

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, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the business posted $0.14 earnings per share. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNOW. UBS Group raised shares of Snowflake from a "neutral" rating to a "buy" rating and upped their price objective for the company from $210.00 to $265.00 in a research note on Wednesday, June 4th. Hsbc Global Res downgraded shares of Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Mizuho upped their price objective on shares of Snowflake from $215.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Canaccord Genuity Group increased their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $223.50.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 7,908 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $154.67, for a total value of $1,223,130.36. Following the sale, the executive vice president now directly owns 600,632 shares in the company, valued at approximately $92,899,751.44. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Emily Ho sold 5,027 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $199.06, for a total value of $1,000,674.62. Following the completion of the sale, the chief accounting officer now owns 40,608 shares in the company, valued at $8,083,428.48. The trade was a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 892,277 shares of company stock worth $169,052,217 over the last ninety days. 6.80% of the stock is owned by insiders.

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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