Snowflake Inc. (NYSE:SNOW) Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC raised its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 47.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,486 shares of the company's stock after acquiring an additional 3,701 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Snowflake were worth $1,679,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SNOW. Brighton Jones LLC lifted its holdings in shares of Snowflake by 90.0% in 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. Empowered Funds LLC boosted its stake in Snowflake by 50.6% during the 4th quarter. Empowered Funds LLC now owns 9,054 shares of the company's stock valued at $1,398,000 after purchasing an additional 3,041 shares during the last quarter. Stephens Inc. AR increased its holdings in Snowflake by 9.8% during the 4th quarter. Stephens Inc. AR now owns 2,945 shares of the company's stock worth $455,000 after purchasing an additional 262 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Snowflake by 53.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 5,079 shares of the company's stock worth $784,000 after purchasing an additional 1,769 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of Snowflake in the fourth quarter valued at approximately $29,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Up 1.1%

SNOW traded up $2.41 during trading on Wednesday, hitting $211.86. The stock had a trading volume of 3,050,151 shares, compared to its average volume of 5,447,136. The stock has a 50 day simple moving average of $179.22 and a two-hundred day simple moving average of $171.24. The company has a market capitalization of $70.73 billion, a PE ratio of -50.32 and a beta of 1.21. 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 twelve month low of $107.13 and a twelve month high of $214.83.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Snowflake's revenue for the quarter was up 25.8% on a year-over-year basis. On average, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Frank Slootman sold 1,859 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $209.96, for a total value of $390,315.64. Following the sale, the director now directly owns 180,229 shares in the company, valued at $37,840,880.84. The trade was a 1.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Emily Ho sold 2,599 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $210.07, for a total transaction of $545,971.93. Following the completion of the sale, the chief accounting officer now owns 37,763 shares in the company, valued at $7,932,873.41. This represents a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 892,277 shares of company stock worth $169,052,217 in the last quarter. 6.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley restated an "equal weight" rating on shares of Snowflake in a research note on Thursday, May 22nd. Macquarie increased their price objective on Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $250.00 price target (up from $225.00) on shares of Snowflake in a research note on Friday, June 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 target price on shares of Snowflake in a research report on Thursday, June 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $223.50.

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.