Fox Run Management L.L.C. Increases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Key Points

• Fox Run Management L.L.C. increased its holdings in Snowflake Inc. by 135.9%, owning 7,005 shares valued at approximately $1,024,000 after acquiring an additional 4,035 shares this quarter.
• Analysts have set a consensus price target of $226.32 for Snowflake, with a rating of "Moderate Buy" based on 33 "buy" ratings compared to only 2 "sell" ratings.
• Insider trading activity includes Director Teresa Briggs selling 1,146 shares, decreasing her position by 20.39%, while EVP Christian Kleinerman sold 10,000 shares, representing a 1.83% decrease in their holdings.

Fox Run Management L.L.C. lifted its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 135.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,005 shares of the company's stock after purchasing an additional 4,035 shares during the quarter. Fox Run Management L.L.C.'s holdings in Snowflake were worth $1,024,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Quarry LP boosted its stake in Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company's stock worth $102,000 after buying an additional 59 shares during the period. Ignite Planners LLC boosted its stake in Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock worth $418,000 after buying an additional 64 shares during the period. Gabelli Funds LLC boosted its stake in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after buying an additional 65 shares during the period. Archford Capital Strategies LLC boosted its stake in Snowflake by 1.9% during the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock worth $527,000 after buying an additional 68 shares during the period. Finally, TD Private Client Wealth LLC lifted its position in shares of Snowflake by 8.9% during the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock worth $122,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Citigroup reissued an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Royal Bank Of Canada increased their price target on shares of Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Sanford C. Bernstein reissued a "market perform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Stifel Nicolaus increased their price target on shares of Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Truist Financial increased their price target on shares of Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $226.32.

Insider Activity

In other news, Director Teresa Briggs sold 1,146 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total value of $249,530.04. Following the completion of the sale, the director owned 4,474 shares in the company, valued at approximately $974,168.76. This trade represents a 20.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $216.00, for a total transaction of $2,160,000.00. Following the completion of the sale, the executive vice president owned 537,336 shares of the company's stock, valued at $116,064,576. This trade represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,014,642 shares of company stock worth $657,325,186 over the last quarter. Insiders own 6.80% of the company's stock.

Snowflake Stock Performance

NYSE:SNOW opened at $195.02 on Friday. The firm has a market cap of $65.11 billion, a price-to-earnings ratio of -46.32 and a beta of 1.22. 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 1-year low of $107.13 and a 1-year high of $229.27. The firm's fifty day moving average price is $212.74 and its 200 day moving average price is $184.44.

Snowflake (NYSE:SNOW - Get Free Report) last released its 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 company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the business earned $0.14 EPS. The business's revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS 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.

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