Motley Fool Asset Management LLC Buys 2,260 Shares of Snowflake Inc. (NYSE:SNOW)

Key Points

• Motley Fool Asset Management LLC increased its stake in Snowflake Inc. by 17.0% during the first quarter, bringing its total holdings to 15,521 shares valued at approximately $2.27 million.
• Several institutional investors have also changed their positions in Snowflake, with 65.10% of the stock currently owned by hedge funds and other institutions.
• Snowflake's stock has an average rating of "Moderate Buy" from analysts, with a target price of $226.73, while the stock recently traded at $191.83.

Motley Fool Asset Management LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 17.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,521 shares of the company's stock after buying an additional 2,260 shares during the quarter. Motley Fool Asset Management LLC's holdings in Snowflake were worth $2,269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNOW. Opal Wealth Advisors LLC bought a new stake in shares of Snowflake during the 1st quarter valued at about $26,000. CVA Family Office LLC boosted its position in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. West Paces Advisors Inc. bought a new stake in Snowflake during the 4th quarter valued at approximately $31,000. Spurstone Advisory Services LLC bought a new stake in Snowflake during the 4th quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC bought a new stake in Snowflake during the 4th quarter valued at approximately $31,000. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Down 0.9%

Shares of NYSE:SNOW traded down $1.85 during trading on Thursday, hitting $195.02. The company had a trading volume of 2,785,481 shares, compared to its average volume of 5,069,094. The stock has a market cap of $65.11 billion, a price-to-earnings ratio of -46.32 and a beta of 1.22. Snowflake Inc. has a one year low of $107.13 and a one year high of $229.27. The company has a fifty day simple moving average of $213.04 and a two-hundred day simple moving average of $184.30. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $0.14 EPS. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNOW. Stifel Nicolaus lifted their price objective on Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Loop Capital lifted their target price on shares of Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Scotiabank reissued an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Hsbc Global Res cut shares of Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Finally, Macquarie boosted their price objective on shares of Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $226.32.

Insider Activity

In related news, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $208.69, for a total value of $84,102.07. Following the sale, the director directly owned 26,136 shares of the company's stock, valued at $5,454,321.84. This represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $216.00, for a total transaction of $2,160,000.00. Following the completion of the sale, the executive vice president directly owned 537,336 shares in the company, valued at $116,064,576. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,014,642 shares of company stock valued at $657,325,186. Company insiders own 6.80% of the company's stock.

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.