Fiera Capital Corp Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

Key Points

• Fiera Capital Corp increased its holdings in Snowflake Inc. by 21.8%, acquiring an additional 6,016 shares, bringing its total to 33,607 shares valued at approximately $4.9 million.
• Several hedge funds, including FMR LLC and Price T Rowe Associates Inc., have made significant increases in their Snowflake holdings, with FMR LLC boosting by 84.9% and Price T Rowe Associates by 124.4%.
• Snowflake's stock performance includes a recent 52-week high of $226.60, with analysts providing an average target price of $226.73, indicating a positive outlook.

Fiera Capital Corp raised its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,607 shares of the company's stock after acquiring an additional 6,016 shares during the period. Fiera Capital Corp's holdings in Snowflake were worth $4,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after purchasing an additional 29,320 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Snowflake by 29.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 6,581 shares of the company's stock worth $1,016,000 after acquiring an additional 1,510 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Snowflake by 500.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 300 shares of the company's stock worth $46,000 after acquiring an additional 250 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Snowflake by 7.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 7,787 shares of the company's stock worth $1,254,000 after purchasing an additional 526 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Snowflake by 31.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 12,590 shares of the company's stock valued at $1,944,000 after purchasing an additional 2,985 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 news, Director Frank Slootman sold 100,483 shares of the stock in a transaction on 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 of the company's stock, valued at $36,999,089.85. This represents a 37.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 1,146 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $217.74, for a total transaction of $249,530.04. Following the completion of the sale, the director directly owned 4,474 shares of the company's stock, valued at $974,168.76. The trade was a 20.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,697,855 shares of company stock worth $586,415,198 over the last three months. 6.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SNOW shares. Monness Crespi & Hardt increased their target price on Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Evercore ISI reissued a "buy" rating on shares of Snowflake in a report on Wednesday, June 4th. Royal Bank Of Canada raised their price objective on shares of Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Truist Financial boosted their price objective on shares of Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, UBS Group raised shares of Snowflake from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $210.00 to $265.00 in a report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $226.73.

Snowflake Trading Down 8.2%

SNOW stock traded down $18.43 on Friday, hitting $205.07. 8,572,486 shares of the company were exchanged, compared to its average volume of 3,088,446. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $229.27. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The business's fifty day moving average is $213.88 and its two-hundred day moving average is $182.72. The stock has a market capitalization of $68.46 billion, a price-to-earnings ratio of -48.71 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $0.14 earnings per share. Snowflake's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Snowflake 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.