Northwest & Ethical Investments L.P. acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,952 shares of the company's stock, valued at approximately $723,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Snowflake in the 1st quarter valued at about $26,000. CVA Family Office LLC lifted its holdings in shares of Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after acquiring an additional 88 shares during the period. West Paces Advisors Inc. acquired a new stake in shares of Snowflake in the fourth quarter worth approximately $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake in the fourth quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake in the fourth quarter valued at approximately $31,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on SNOW. Citigroup lifted their price target on shares of Snowflake from $245.00 to $250.00 and gave the company a "buy" rating in a report on Friday. HSBC cut Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. DA Davidson restated a "buy" rating and issued a $250.00 price objective on shares of Snowflake in a report on Wednesday, June 4th. Macquarie increased their target price on shares of Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Finally, Bank of America upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and raised their price target for the company from $220.00 to $240.00 in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $230.22.
Get Our Latest Stock Report on SNOW
Snowflake Stock Up 1.1%
Shares of NYSE SNOW traded up $2.1110 during trading on Friday, reaching $196.7910. 3,096,066 shares of the stock were exchanged, compared to its average volume of 4,227,432. The business's 50-day moving average price is $211.11 and its 200 day moving average price is $184.91. The company has a market capitalization of $65.70 billion, a price-to-earnings ratio of -46.74 and a beta of 1.22. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $229.27. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.
Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion for 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 was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. As a group, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, 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 value of $2,160,000.00. Following the completion of the transaction, the executive vice president owned 537,336 shares of the company's stock, valued at approximately $116,064,576. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $84,102.07. Following the sale, the director owned 26,136 shares in the company, valued at $5,454,321.84. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,916,826 shares of company stock valued at $637,835,052 in the last three months. 6.80% of the stock is owned by insiders.
About Snowflake
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Free Report)
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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