Nishkama Capital LLC Invests $4.33 Million in Snowflake Inc. $SNOW

Key Points

• Nishkama Capital LLC invested approximately $4.33 million in Snowflake Inc., acquiring 29,635 shares which now make up 0.5% of its investment portfolio.
• Wall Street analysts currently have a consensus rating of "Moderate Buy" for Snowflake, with an average price target of $230.22.
• Significant insider selling was reported, with Director Frank Slootman selling over 424,000 shares, marking a 71.97% decrease in his position.

Nishkama Capital LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,635 shares of the company's stock, valued at approximately $4,331,000. Snowflake accounts for 0.5% of Nishkama Capital LLC's investment portfolio, making the stock its 25th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after purchasing an additional 29,320 shares in the last quarter. MGO One Seven LLC increased its stake in Snowflake by 34.0% in the 4th quarter. MGO One Seven LLC now owns 2,552 shares of the company's stock valued at $394,000 after buying an additional 648 shares during the last quarter. Boothbay Fund Management LLC increased its stake in Snowflake by 212.5% in the 4th quarter. Boothbay Fund Management LLC now owns 24,067 shares of the company's stock valued at $3,716,000 after buying an additional 16,365 shares during the last quarter. Oak Wealth Advisors LLC purchased a new stake in shares of Snowflake during the 4th quarter worth approximately $736,000. Finally, Mission Creek Capital Partners Inc. purchased a new stake in shares of Snowflake during the 4th quarter worth approximately $4,449,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Evercore ISI restated a "buy" rating on shares of Snowflake in a research note on Wednesday, June 4th. Raymond James Financial reaffirmed an "outperform" rating and set a $212.00 price objective (up from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. Oppenheimer reaffirmed an "outperform" rating on shares of Snowflake in a report on Tuesday, June 24th. Loop Capital lifted their price objective on shares of Snowflake from $220.00 to $245.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Hsbc Global Res downgraded shares of Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and a consensus price target of $230.22.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 424,852 shares of Snowflake stock in a transaction dated 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 directly owned 165,507 shares of the company's stock, valued at approximately $36,303,960.45. The trade was a 71.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Scarpelli sold 400,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the sale, the chief financial officer directly owned 292,610 shares of the company's stock, valued at approximately $60,090,389.60. This trade represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,916,826 shares of company stock valued at $637,835,052. 6.80% of the stock is owned by corporate insiders.

Snowflake Stock Up 1.1%

Shares of SNOW stock opened at $196.7910 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market capitalization of $65.70 billion, a price-to-earnings ratio of -46.74 and a beta of 1.22. The company's fifty day moving average price is $211.11 and its 200-day moving average price is $184.90. Snowflake Inc. has a one year low of $107.13 and a one year high of $229.27.

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.

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