NTV Asset Management LLC Takes $2.27 Million Position in Snowflake Inc. (NYSE:SNOW)

NTV Asset Management LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,520 shares of the company's stock, valued at approximately $2,268,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SNOW. Norges Bank purchased a new stake in shares of Snowflake during the 4th quarter worth about $988,950,000. GQG Partners LLC bought a new position in shares of Snowflake in the 4th quarter valued at approximately $750,572,000. FMR LLC raised its stake in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Snowflake by 124.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after acquiring an additional 2,200,406 shares in the last quarter. Finally, Groupama Asset Managment raised its stake in shares of Snowflake by 930,132.6% in the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock valued at $308,820,000 after acquiring an additional 1,999,785 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNOW. Needham & Company LLC reissued a "buy" rating and issued a $230.00 price objective on shares of Snowflake in a research note on Thursday, June 5th. Oppenheimer reaffirmed an "outperform" rating on shares of Snowflake in a research report on Tuesday, June 24th. UBS Group upgraded Snowflake from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $210.00 to $265.00 in a research report on Wednesday, June 4th. Daiwa America upgraded Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. Finally, CICC Research started coverage on Snowflake in a research note on Friday, June 20th. They issued an "outperform" rating and a $225.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and a consensus target price of $225.36.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the sale, the executive vice president owned 547,336 shares of the company's stock, valued at $119,806,377.04. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $221.47, for a total value of $89,252.41. Following the transaction, the director directly owned 26,539 shares in the company, valued at $5,877,592.33. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,718,258 shares of company stock worth $589,762,906. Insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of SNOW traded down $7.61 during midday trading on Thursday, hitting $214.29. The company's stock had a trading volume of 4,730,608 shares, compared to its average volume of 6,023,789. Snowflake Inc. has a one year low of $107.13 and a one year high of $226.60. The company's fifty day simple moving average is $201.70 and its two-hundred day simple moving average is $176.33. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $71.54 billion, a price-to-earnings ratio of -50.90 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $0.14 EPS. Snowflake's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.