Lumbard & Kellner LLC Purchases Shares of 20,568 Snowflake Inc. (NYSE:SNOW)

Lumbard & Kellner LLC purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,568 shares of the company's stock, valued at approximately $3,006,000.

A number of other large investors have also modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new position in Snowflake during the 1st quarter worth $26,000. CVA Family Office LLC raised its position in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. purchased a new position in shares of Snowflake in the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC purchased a new position in shares of Snowflake in the 4th quarter valued at about $31,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Snowflake during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Price Performance

Snowflake stock opened at $211.89 on Thursday. 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 business has a 50 day simple moving average of $180.43 and a 200-day simple moving average of $171.52. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $214.83. The stock has a market capitalization of $70.74 billion, a PE ratio of -50.33 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the company posted $0.14 EPS. Snowflake's revenue was up 25.8% compared to the same quarter last year. Equities analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Transactions at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 7,908 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the transaction, the executive vice president now directly owns 600,632 shares in the company, valued at approximately $92,899,751.44. This trade represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 902,546 shares of company stock worth $171,188,169 over the last ninety days. 6.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SNOW. Scotiabank reaffirmed an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. JMP Securities reissued a "market outperform" rating and issued a $245.00 price objective on shares of Snowflake in a research report on Wednesday, June 4th. Hsbc Global Res cut shares of Snowflake from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. DA Davidson reiterated a "buy" rating and set a $250.00 target price on shares of Snowflake in a research note on Wednesday, June 4th. Finally, Wall Street Zen upgraded Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and an average price target of $223.50.

About Snowflake

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.

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