NBC Securities Inc. Buys 3,730 Shares of Snowflake Inc. (NYSE:SNOW)

NBC Securities Inc. raised its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 124,333.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,733 shares of the company's stock after purchasing an additional 3,730 shares during the quarter. NBC Securities Inc.'s holdings in Snowflake were worth $545,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SNOW. Sumitomo Mitsui Trust Group Inc. raised its holdings in Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock worth $104,028,000 after purchasing an additional 8,857 shares during the last quarter. Kirtland Hills Capital Management LLC increased its position in shares of Snowflake by 40.1% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock worth $2,458,000 after acquiring an additional 4,559 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Snowflake by 455.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock valued at $19,174,000 after purchasing an additional 101,806 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new stake in Snowflake in the 4th quarter valued at approximately $3,088,000. Finally, Onyx Bridge Wealth Group LLC bought a new stake in Snowflake in the 4th quarter valued at approximately $237,000. 65.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Truist Financial boosted their price target on shares of Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating 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 report on Thursday, May 22nd. JMP Securities reiterated a "market outperform" rating and set a $245.00 price target on shares of Snowflake in a report on Wednesday. Cantor Fitzgerald upped 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. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $225.00 price objective (up from $200.00) on shares of Snowflake in a research report on Thursday, May 22nd. Two 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $221.97.

Snowflake Price Performance

NYSE SNOW traded up $0.68 on Friday, hitting $210.78. 3,796,901 shares of the company's stock were exchanged, compared to its average volume of 6,356,232. The stock has a 50-day moving average of $168.14 and a 200-day moving average of $168.59. The stock has a market cap of $70.37 billion, a price-to-earnings ratio of -62.18 and a beta of 1.21. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $214.83. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company earned $0.14 EPS. Snowflake's revenue for the quarter was up 25.8% on a year-over-year basis. Analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value 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. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $205.67, for a total transaction of $2,056,700.00. Following the sale, the executive vice president now directly owns 570,632 shares in the company, valued at $117,361,883.44. The trade was a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 849,779 shares of company stock valued at $159,318,643. 6.80% of the stock is currently owned by insiders.

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.