Snowflake Inc. (NYSE:SNOW) Shares Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd boosted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,081 shares of the company's stock after acquiring an additional 5,335 shares during the quarter. IFM Investors Pty Ltd's holdings in Snowflake were worth $8,635,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Snowflake in the 1st quarter valued at about $26,000. CVA Family Office LLC grew its stake in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. West Paces Advisors Inc. bought a new stake in shares of Snowflake in the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC bought a new stake in shares of Snowflake in the fourth quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new position in Snowflake during the fourth quarter valued at approximately $31,000. 65.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several analyst reports. Robert W. Baird increased their price target on shares of Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald upped their price target on shares of Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. DA Davidson reaffirmed a "buy" rating and set a $250.00 price objective on shares of Snowflake in a research note on Wednesday, June 4th. Morgan Stanley started coverage on shares of Snowflake in a research report on Tuesday, June 24th. They set an "overweight" rating and a $262.00 price objective on the stock. Finally, Cowen reiterated a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $225.36.

Snowflake Trading Up 1.7%

Snowflake stock traded up $3.79 during trading on Friday, reaching $221.13. 2,761,777 shares of the company were exchanged, compared to its average volume of 6,056,513. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $225.68. The company has a market capitalization of $73.83 billion, a P/E ratio of -52.52 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. The stock's 50 day simple moving average is $197.86 and its two-hundred day simple moving average is $175.19.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The company's revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In related news, Director Jeremy Burton sold 19,111 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $220.80, for a total value of $4,219,708.80. Following the sale, the director owned 3,987 shares in the company, valued at approximately $880,329.60. The trade was a 82.74% 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 10,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $218.89, for a total value of $2,188,900.00. Following the completion of the sale, the executive vice president owned 547,336 shares in the company, valued at $119,806,377.04. This represents a 1.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,876,557 shares of company stock worth $403,565,119. 6.80% of the stock is owned by corporate insiders.

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.