Grandview Asset Management LLC Acquires Shares of 1,874 Snowflake Inc. (NYSE:SNOW)

Grandview Asset Management LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,874 shares of the company's stock, valued at approximately $274,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Snowflake during the 4th quarter valued at approximately $988,950,000. FMR LLC raised its stake in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after buying an additional 2,805,425 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Snowflake during the 4th quarter worth approximately $750,572,000. Geode Capital Management LLC raised its stake in shares of Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock worth $642,742,000 after buying an additional 15,314 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after buying an additional 2,200,406 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNOW has been the subject of a number of analyst reports. Barclays reissued an "overweight" rating and set a $219.00 target price (up from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. HSBC downgraded Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Snowflake in a research note on Thursday, June 5th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $205.00 price objective on shares of Snowflake in a research note on Monday, May 19th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $212.00 price objective (up from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $223.50.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 7,908 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the completion of the sale, the executive vice president now directly owns 600,632 shares of the company's stock, valued at $92,899,751.44. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Emily Ho sold 2,599 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $210.07, for a total value of $545,971.93. Following the sale, the chief accounting officer now directly owns 37,763 shares of the company's stock, valued at approximately $7,932,873.41. This represents a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 892,277 shares of company stock valued at $169,052,217. 6.80% of the stock is owned by corporate insiders.

Snowflake Stock Performance

Shares of SNOW stock opened at $209.30 on Wednesday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $214.83. The firm has a market capitalization of $69.88 billion, a price-to-earnings ratio of -49.71 and a beta of 1.21. The business has a 50 day simple moving average of $179.22 and a 200 day simple moving average of $171.24. 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 (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $0.14 EPS. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

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.

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