NTV Asset Management LLC Acquires New Holdings in Snowflake Inc. (NYSE:SNOW)

NTV Asset Management LLC acquired a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 15,520 shares of the company's stock, valued at approximately $2,268,000.

Several other large investors have also recently modified their holdings of SNOW. Norges Bank purchased a new position in Snowflake during the 4th quarter valued at about $988,950,000. FMR LLC increased its holdings in Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the period. GQG Partners LLC purchased a new position in Snowflake during the 4th quarter valued at about $750,572,000. Geode Capital Management LLC increased its holdings in Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after purchasing an additional 15,314 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after acquiring an additional 2,200,406 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on SNOW. Stifel Nicolaus upped their target price on Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Scotiabank reiterated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Wells Fargo & Company reiterated an "overweight" rating and set a $250.00 target price (up previously from $225.00) on shares of Snowflake in a report on Friday, June 13th. Citigroup reiterated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Oppenheimer reiterated an "outperform" rating on shares of Snowflake in a report on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $225.36.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 424,852 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $219.35, for a total value of $93,191,286.20. Following the sale, the director directly owned 165,507 shares of the company's stock, valued at $36,303,960.45. This represents a 71.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 400,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was 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 in the company, valued at $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. In the last quarter, insiders sold 2,718,258 shares of company stock valued at $589,762,906. Insiders own 6.80% of the company's stock.

Snowflake Stock Performance

SNOW traded down $1.89 during mid-day trading on Wednesday, reaching $221.61. 2,623,392 shares of the company traded hands, compared to its average volume of 6,028,779. 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 $73.99 billion, a P/E ratio of -52.64 and a beta of 1.22. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $226.60. The company's fifty day moving average price is $200.46 and its 200-day moving average price is $176.01.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $0.14 EPS. Snowflake's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

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.