Gainplan LLC Acquires New Shares in Snowflake Inc. (NYSE:SNOW)

Gainplan LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,564 shares of the company's stock, valued at approximately $375,000.

A number of other hedge funds have also recently made changes to their positions in the company. Grassi Investment Management boosted its holdings in shares of Snowflake by 3.3% during the 1st quarter. Grassi Investment Management now owns 81,250 shares of the company's stock valued at $11,875,000 after buying an additional 2,580 shares in the last quarter. Teamwork Financial Advisors LLC purchased a new position in shares of Snowflake in the first quarter worth approximately $408,000. Watershed Private Wealth LLC purchased a new stake in shares of Snowflake in the 1st quarter worth $347,000. Whipplewood Advisors LLC increased its position in Snowflake by 51.0% in the first quarter. Whipplewood Advisors LLC now owns 471 shares of the company's stock worth $69,000 after buying an additional 159 shares in the last quarter. Finally, Fulton Bank N.A. raised its holdings in Snowflake by 40.3% during the first quarter. Fulton Bank N.A. now owns 1,964 shares of the company's stock valued at $287,000 after acquiring an additional 564 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Michael Scarpelli sold 400,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $205.67, for a total transaction of $2,056,700.00. Following the transaction, the executive vice president now directly owns 570,632 shares of the company's stock, valued at $117,361,883.44. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 849,779 shares of company stock valued at $159,318,643. 6.80% of the stock is owned by insiders.

Snowflake Trading Up 0.3%

Shares of SNOW stock traded up $0.68 on Friday, reaching $210.78. The company had a trading volume of 3,796,901 shares, compared to its average volume of 6,356,233. The company has a 50-day moving average of $168.14 and a 200-day moving average of $168.59. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market cap of $70.37 billion, a PE ratio of -62.18 and a beta of 1.21. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $214.83.

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. 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 quarter in the previous year, the business posted $0.14 EPS. The business's quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Ratings Changes

SNOW has been the subject of a number of analyst reports. Oppenheimer raised their price target on Snowflake from $225.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday. Loop Capital increased their price target on Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a research note on Wednesday. Stifel Nicolaus upped their price objective on shares of Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Cantor Fitzgerald increased their price target on Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $221.97.

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.