First American Trust FSB Has $3.44 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Key Points

• First American Trust FSB increased its stake in Snowflake Inc. by 16.2%, bringing its total holdings to 23,512 shares valued at approximately $3.44 million.
• Snowflake reported a 25.8% increase in quarterly revenue compared to the previous year, with earnings per share beating consensus estimates at $0.24.
• Analysts have given Snowflake a consensus rating of "Moderate Buy", with several price target increases, the highest now being $265 by UBS Group.

First American Trust FSB grew its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 16.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,512 shares of the company's stock after buying an additional 3,279 shares during the quarter. First American Trust FSB's holdings in Snowflake were worth $3,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SNOW. Opal Wealth Advisors LLC acquired a new position in Snowflake during the first quarter worth $26,000. CVA Family Office LLC boosted its holdings in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares during the last quarter. West Paces Advisors Inc. acquired a new stake in Snowflake in the fourth quarter valued at $31,000. Spurstone Advisory Services LLC acquired a new stake in Snowflake in the fourth quarter valued at $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in Snowflake in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Price Performance

SNOW stock opened at $191.94 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $229.27. The firm has a market cap of $64.08 billion, a P/E ratio of -45.59 and a beta of 1.22. The company's 50-day moving average price is $213.98 and its two-hundred day moving average price is $183.97.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business's quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. On average, analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on SNOW shares. UBS Group upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and increased their price target for the company from $210.00 to $265.00 in a research note on Wednesday, June 4th. Oppenheimer reiterated an "outperform" rating on shares of Snowflake in a research note on Tuesday, June 24th. Mizuho increased their price target 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. Cantor Fitzgerald increased their price target on shares of Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.73.

Insider Activity at Snowflake

In other Snowflake news, 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 sale, the chief financial officer owned 292,610 shares of the company's stock, valued at approximately $60,090,389.60. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 424,852 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total value of $93,191,286.20. Following the completion of the transaction, the director owned 165,507 shares of the company's stock, valued at $36,303,960.45. The trade was a 71.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,014,642 shares of company stock valued at $657,325,186. 6.80% of the stock is owned by insiders.

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.

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