Mizuho Markets Americas LLC Buys 36,810 Shares of Snowflake Inc. (NYSE:SNOW)

Key Points

• Mizuho Markets Americas LLC increased its stake in Snowflake Inc. by 9.2%, acquiring an additional 36,810 shares, bringing their total ownership to 438,391 shares.
• Snowflake reported a quarterly revenue of $1.04 billion, surpassing analysts' expectations of $1.01 billion, and posted earnings of $0.24 per share, which was above the consensus estimate of $0.22.
• A director at Snowflake, Frank Slootman, sold 424,852 shares valued at approximately $93 million, indicating a significant decrease in his ownership stake.

Mizuho Markets Americas LLC boosted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 9.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 438,391 shares of the company's stock after acquiring an additional 36,810 shares during the period. Snowflake comprises about 1.3% of Mizuho Markets Americas LLC's investment portfolio, making the stock its 19th biggest holding. Mizuho Markets Americas LLC owned about 0.13% of Snowflake worth $64,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new position in shares of Snowflake during the first quarter valued at approximately $26,000. CVA Family Office LLC increased its stake in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after acquiring an additional 88 shares during the period. West Paces Advisors Inc. acquired a new position in shares of Snowflake during the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC acquired a new position in shares of Snowflake during the fourth quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Snowflake during the fourth quarter valued at approximately $31,000. Institutional investors own 65.10% of the company's stock.

Snowflake Stock Performance

Snowflake stock traded up $3.85 on Wednesday, reaching $196.91. 4,427,921 shares of the stock were exchanged, compared to its average volume of 5,083,586. The stock has a market cap of $65.74 billion, a PE ratio of -46.77 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $229.27. The firm has a fifty day moving average price of $213.29 and a two-hundred day moving average price of $184.22.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS 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 net margin of 36.43% and a negative return on equity of 37.75%. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share. Sell-side analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective 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. Scotiabank restated an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Piper Sandler restated an "overweight" rating and issued a $215.00 price target (up previously from $175.00) on shares of Snowflake in a research report on Wednesday, May 21st. Loop Capital lifted their price target on shares of Snowflake from $220.00 to $245.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Mizuho lifted their price target on shares of Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $226.32.

Insider Buying and Selling at Snowflake

In related news, Director Teresa Briggs sold 1,146 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total value of $249,530.04. Following the sale, the director owned 4,474 shares of the company's stock, valued at $974,168.76. The trade was a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 256,046 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $227.15, for a total transaction of $58,160,848.90. Following the completion of the sale, the director directly owned 165,507 shares in the company, valued at approximately $37,594,915.05. The trade was a 60.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,014,642 shares of company stock worth $657,325,186. Insiders own 6.80% of the company's stock.

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.