Grandview Asset Management LLC Makes New $274,000 Investment in Snowflake Inc. (NYSE:SNOW)

Grandview Asset Management LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,874 shares of the company's stock, valued at approximately $274,000.

A number of other institutional investors also recently modified their holdings of SNOW. Opal Wealth Advisors LLC acquired a new position in shares of Snowflake during the 1st quarter worth $26,000. CVA Family Office LLC increased its holdings in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. acquired a new position in Snowflake in the 4th quarter worth about $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake in the 4th quarter worth about $31,000. Finally, Capital A Wealth Management LLC acquired a new position in Snowflake in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Stock Down 0.1%

Shares of Snowflake stock traded down $0.24 on Friday, hitting $211.84. The company had a trading volume of 4,238,099 shares, compared to its average volume of 6,182,683. The stock has a market capitalization of $70.73 billion, a price-to-earnings ratio of -50.32 and a beta of 1.21. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $215.99. The stock has a 50 day moving average of $183.12 and a 200-day moving average of $171.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company's quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 earnings per share. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent research reports. Mizuho upped their target price on Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Barclays reaffirmed an "overweight" rating and issued a $219.00 target price (up previously from $203.00) on shares of Snowflake in a report on Thursday, May 22nd. CICC Research initiated coverage on Snowflake in a report on Friday. They issued an "outperform" rating and a $225.00 target price for the company. Scotiabank reissued an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, HSBC cut Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus price target of $223.54.

Insider Transactions at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. This trade represents a 50.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the sale, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 894,638 shares of company stock valued at $169,965,038 over the last ninety days. 6.80% of the stock is currently owned by insiders.

Snowflake Company 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.