Rathbones Group PLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Rathbones Group PLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,992 shares of the company's stock, valued at approximately $291,000.

A number of other large investors have also recently added to or reduced their stakes in SNOW. Brighton Jones LLC increased its holdings in Snowflake by 90.0% during 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. Belpointe Asset Management LLC increased its holdings in Snowflake by 7.5% during the 4th quarter. Belpointe Asset Management LLC now owns 2,629 shares of the company's stock worth $406,000 after purchasing an additional 183 shares in the last quarter. Gabelli Funds LLC increased its holdings in Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after purchasing an additional 65 shares in the last quarter. United Capital Financial Advisors LLC increased its holdings in Snowflake by 22.0% during the 4th quarter. United Capital Financial Advisors LLC now owns 10,294 shares of the company's stock worth $1,590,000 after purchasing an additional 1,859 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Snowflake by 30.3% during the 4th quarter. NewEdge Advisors LLC now owns 11,280 shares of the company's stock worth $1,742,000 after purchasing an additional 2,623 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Oppenheimer reiterated an "outperform" rating on shares of Snowflake in a report on Tuesday, June 24th. Cantor Fitzgerald increased their price objective on shares of Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada increased their price objective on shares of Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. BTIG Research restated a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company restated an "overweight" rating and set a $250.00 price objective (up from $225.00) on shares of Snowflake in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $226.32.

Snowflake Stock Down 0.9%

Shares of SNOW opened at $195.02 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $229.27. The firm's 50 day moving average is $212.74 and its 200-day moving average is $184.44. The stock has a market capitalization of $65.11 billion, a PE ratio of -46.32 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the firm earned $0.14 earnings per share. The business's revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In related news, Director Frank Slootman sold 424,852 shares of Snowflake stock in a transaction that occurred on 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 transaction, the director directly owned 165,507 shares of the company's stock, valued at $36,303,960.45. This trade represents a 71.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Scarpelli sold 400,000 shares of Snowflake stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the transaction, 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. Insiders sold 3,014,642 shares of company stock worth $657,325,186 over the last three months. 6.80% of the stock is currently owned by insiders.

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.

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