Snowflake Inc. (NYSE:SNOW) Shares Purchased by Grassi Investment Management

Grassi Investment Management boosted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 3.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 81,250 shares of the company's stock after acquiring an additional 2,580 shares during the quarter. Snowflake comprises about 1.1% of Grassi Investment Management's portfolio, making the stock its 25th largest position. Grassi Investment Management's holdings in Snowflake were worth $11,875,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake in the fourth quarter worth about $29,000. West Paces Advisors Inc. acquired a new position in Snowflake in the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC purchased a new position in Snowflake during the 4th quarter worth approximately $31,000. Capital A Wealth Management LLC purchased a new position in Snowflake during the 4th quarter worth approximately $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in shares of Snowflake during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SNOW. DA Davidson reaffirmed a "buy" rating and issued a $250.00 price target on shares of Snowflake in a report on Wednesday. Macquarie raised their target price on Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday. UBS Group upgraded Snowflake from a "neutral" rating to a "buy" rating and lifted their price target for the company from $210.00 to $265.00 in a research report on Wednesday. Robert W. Baird upped their price objective on Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus raised their price objective on shares of Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $221.97.

Snowflake Trading Up 0.3%

SNOW stock traded up $0.68 during midday trading on Friday, hitting $210.78. 3,796,901 shares of the company's stock were exchanged, compared to its average volume of 6,356,233. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $214.83. 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 capitalization of $70.37 billion, a PE ratio of -62.18 and a beta of 1.21. The business has a 50-day simple moving average of $168.14 and a two-hundred day simple moving average of $168.59.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company's 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 EPS. On average, sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, CFO Michael Scarpelli sold 400,000 shares of the business's 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 sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $60,090,389.60. The trade was a 57.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 685 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the transaction, the executive vice president now directly owns 622,611 shares in the company, valued at approximately $91,673,243.64. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 849,779 shares of company stock worth $159,318,643 over the last three months. Insiders own 6.80% of the company's stock.

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.