Janney Montgomery Scott LLC Increases Holdings in Snowflake Inc. (NYSE:SNOW)

Janney Montgomery Scott LLC lifted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 10.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,538 shares of the company's stock after acquiring an additional 4,661 shares during the quarter. Janney Montgomery Scott LLC's holdings in Snowflake were worth $7,094,000 at the end of the most recent quarter.

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

Snowflake Stock Performance

NYSE:SNOW opened at $211.84 on Friday. 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 firm has a 50-day moving average of $183.12 and a two-hundred day moving average of $171.94. The stock has a market cap of $70.73 billion, a P/E 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.

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

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 894,638 shares of company stock valued at $169,965,038. Insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNOW. DA Davidson reissued a "buy" rating and set a $250.00 price target on shares of Snowflake in a research note on Wednesday, June 4th. Citigroup reissued an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Barclays reissued an "overweight" rating and set a $219.00 price target (up previously from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. Mizuho increased their price target on Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $230.00 price target on shares of Snowflake in a research note on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $223.54.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.