Lazard Asset Management LLC Acquires 2,034 Shares of Snowflake Inc. (NYSE:SNOW)

Lazard Asset Management LLC boosted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,658 shares of the company's stock after purchasing an additional 2,034 shares during the period. Lazard Asset Management LLC's holdings in Snowflake were worth $2,108,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in Snowflake during the fourth quarter valued at $29,000. West Paces Advisors Inc. bought a new stake in Snowflake during the fourth quarter valued at $31,000. Quadrant Capital Group LLC boosted its position in Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after acquiring an additional 91 shares during the last quarter. Colonial Trust Co SC bought a new stake in Snowflake during the fourth quarter valued at $33,000. Finally, Blue Bell Private Wealth Management LLC boosted its position in Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after acquiring an additional 144 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNOW. Cowen reaffirmed a "buy" rating on shares of Snowflake in a research report on Thursday. Needham & Company LLC increased their price objective on shares of Snowflake from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday. Barclays reissued an "overweight" rating and set a $219.00 price objective (up previously from $203.00) on shares of Snowflake in a research report on Thursday. Truist Financial increased their price objective on shares of Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Wall Street Zen raised shares of Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $216.46.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 7,016 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total value of $1,092,321.04. Following the completion of the transaction, the director now directly owns 182,999 shares of the company's stock, valued at approximately $28,491,114.31. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the transaction, the executive vice president now directly owns 594,975 shares of the company's stock, valued at approximately $102,186,956.25. This trade represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 356,963 shares of company stock worth $58,204,058 in the last quarter. Insiders own 7.80% of the company's stock.

Snowflake Stock Down 1.6%

NYSE:SNOW traded down $3.19 on Friday, hitting $199.99. The stock had a trading volume of 11,901,781 shares, compared to its average volume of 6,472,348. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market cap of $66.02 billion, a P/E ratio of -58.99 and a beta of 1.11. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $205.40. The firm's fifty day simple moving average is $159.20 and its two-hundred day simple moving average is $163.56.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $0.14 EPS. Snowflake's quarterly revenue was up 25.8% compared to the same quarter last year. Analysts predict that Snowflake Inc. will post -2.36 earnings per share 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.