Perpetual Ltd Boosts Holdings in Snowflake Inc. (NYSE:SNOW)

Perpetual Ltd grew its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 213.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,026 shares of the company's stock after purchasing an additional 8,187 shares during the quarter. Perpetual Ltd's holdings in Snowflake were worth $1,758,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SNOW. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake in the first quarter valued at approximately $26,000. CVA Family Office LLC boosted its stake in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares during the period. West Paces Advisors Inc. acquired a new stake in Snowflake in the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC acquired a new stake in Snowflake in the fourth quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in Snowflake in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $250.00 target price (up previously from $225.00) on shares of Snowflake in a report on Friday, June 13th. Robert W. Baird raised their target price on shares of Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Royal Bank Of Canada raised their target price on shares of Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Raymond James Financial reaffirmed an "outperform" rating and issued a $212.00 target price (up previously from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. Finally, Mizuho raised their target price on shares of Snowflake from $215.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.22.

Insider Activity at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total transaction of $67,708.03. Following the sale, the director now directly owns 25,972 shares in the company, valued at approximately $4,363,555.72. The trade was a 1.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the sale, the executive vice president now owns 590,632 shares in the company, valued at $94,501,120. The trade was a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 622,903 shares of company stock worth $127,235,701 in the last three months. Insiders own 6.80% of the company's stock.

Snowflake Stock Performance

NYSE:SNOW opened at $222.45 on Friday. The firm's fifty day moving average price is $190.70 and its 200 day moving average price is $173.41. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $225.68. 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 firm has a market cap of $74.27 billion, a price-to-earnings ratio of -52.84 and a beta of 1.21.

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

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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