Mackenzie Financial Corp Cuts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Mackenzie Financial Corp lowered its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,956 shares of the company's stock after selling 1,938 shares during the quarter. Mackenzie Financial Corp's holdings in Snowflake were worth $3,081,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Stonebridge Financial Group LLC bought a new position in Snowflake during the 4th quarter valued at $29,000. West Paces Advisors Inc. bought a new position in Snowflake during the 4th quarter valued at $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake during the 4th quarter valued at $31,000. Colonial Trust Co SC bought a new position in Snowflake during the 4th quarter valued at $33,000. Finally, Quadrant Capital Group LLC lifted its stake in Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of Snowflake stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares of the company's stock, valued at $60,090,389.60. The trade was a 57.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the transaction, the executive vice president now directly owns 594,975 shares of the company's stock, valued at $102,186,956.25. The trade was a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 849,779 shares of company stock valued at $158,838,193 in the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Performance

SNOW traded up $3.38 during trading hours on Friday, hitting $205.69. The stock had a trading volume of 7,073,445 shares, compared to its average volume of 6,434,906. The company's fifty day simple moving average is $163.63 and its 200 day simple moving average is $166.60. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $209.80. The stock has a market cap of $68.67 billion, a PE ratio of -60.68 and a beta of 1.11. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. Equities analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on SNOW. Canaccord Genuity Group raised their price objective on Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Evercore ISI restated an "outperform" rating and set a $232.00 price objective (up from $200.00) on shares of Snowflake in a research note on Thursday, May 22nd. DA Davidson raised their price objective on Snowflake from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Raymond James restated an "outperform" rating and set a $212.00 price objective (up from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald raised their price objective on Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $217.33.

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.