Snowflake Inc. (NYSE:SNOW) Stake Increased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 19.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,361 shares of the company's stock after purchasing an additional 18,902 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Snowflake were worth $17,153,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dakota Wealth Management lifted its holdings in Snowflake by 7.6% during the first quarter. Dakota Wealth Management now owns 25,980 shares of the company's stock valued at $3,797,000 after purchasing an additional 1,830 shares during the last quarter. LJI Wealth Management LLC purchased a new stake in Snowflake in the first quarter worth $775,000. SBI Securities Co. Ltd. lifted its position in Snowflake by 9.4% during the first quarter. SBI Securities Co. Ltd. now owns 60,591 shares of the company's stock valued at $8,856,000 after buying an additional 5,197 shares during the period. Apollon Wealth Management LLC raised its position in shares of Snowflake by 12.9% in the 1st quarter. Apollon Wealth Management LLC now owns 10,666 shares of the company's stock worth $1,559,000 after purchasing an additional 1,219 shares during the last quarter. Finally, Sigma Planning Corp increased its holdings in Snowflake by 32.9% in the 1st quarter. Sigma Planning Corp now owns 2,647 shares of the company's stock worth $387,000 after buying an additional 655 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNOW. Cowen restated a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Citigroup reiterated an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and issued a $219.00 price objective (up from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. Monness Crespi & Hardt increased their price objective on Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. upped their target price on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and a consensus target price of $226.73.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 424,852 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at approximately $36,303,960.45. This trade represents a 71.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Garrett sold 67,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $198.98, for a total value of $13,331,660.00. Following the sale, the director directly owned 7,428 shares of the company's stock, valued at approximately $1,478,023.44. This trade represents a 90.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,718,258 shares of company stock worth $589,762,906. 6.80% of the stock is owned by insiders.

Snowflake Stock Performance

SNOW traded up $5.16 during trading on Friday, reaching $216.74. The company's stock had a trading volume of 3,383,192 shares, compared to its average volume of 5,976,901. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $226.60. The company has a market capitalization of $72.36 billion, a price-to-earnings ratio of -51.48 and a beta of 1.22. The company's fifty day moving average price is $207.75 and its 200-day moving average price is $178.89.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share 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 firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the firm posted $0.14 earnings per share. The firm's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal 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.