Keybank National Association OH Increases Position in Snowflake Inc. (NYSE:SNOW)

Keybank National Association OH boosted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 45,206 shares of the company's stock after acquiring an additional 1,702 shares during the quarter. Keybank National Association OH's holdings in Snowflake were worth $6,607,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quarry LP raised its holdings in shares of Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company's stock worth $102,000 after purchasing an additional 59 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after purchasing an additional 65 shares during the last quarter. Archford Capital Strategies LLC grew its position in Snowflake by 1.9% during the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock worth $527,000 after purchasing an additional 68 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Snowflake by 0.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after buying an additional 69 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Snowflake by 21.8% in the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 547,336 shares in the company, valued at approximately $119,806,377.04. The trade was a 1.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 294,125 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $217.29, for a total transaction of $63,910,421.25. Following the completion of the transaction, the director directly owned 165,507 shares in the company, valued at $35,963,016.03. The trade was a 63.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,876,557 shares of company stock valued at $403,565,119 over the last 90 days. Corporate insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SNOW shares. Cantor Fitzgerald lifted their price target on Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada lifted their target price on shares of Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. KeyCorp restated an "overweight" rating on shares of Snowflake in a research report on Wednesday, June 25th. Finally, Bank of America lifted their price objective on shares of Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.36.

Snowflake Trading Up 1.7%

Snowflake stock traded up $3.79 during midday trading on Friday, hitting $221.13. 2,761,777 shares of the stock were exchanged, compared to its average volume of 6,054,199. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock's 50-day simple moving average is $196.60 and its 200 day simple moving average is $174.76. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $225.68. The stock has a market capitalization of $73.83 billion, a price-to-earnings ratio of -52.52 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results 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 net margin of 36.43% and a negative return on equity of 37.75%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $0.14 EPS. The business's revenue was up 25.8% compared to the same quarter last year. On average, equities analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

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.