Snowflake Inc. (NYSE:SNOW) Shares Sold by Sanders Morris Harris LLC

Sanders Morris Harris LLC trimmed its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 18.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,500 shares of the company's stock after selling 1,500 shares during the period. Sanders Morris Harris LLC's holdings in Snowflake were worth $950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SNOW. Stonebridge Financial Group LLC purchased a new stake in Snowflake during the 4th quarter valued at $29,000. West Paces Advisors Inc. purchased a new stake in Snowflake during the 4th quarter valued at $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake during the 4th quarter valued at $31,000. Capital A Wealth Management LLC purchased a new stake in Snowflake in the fourth quarter worth $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in Snowflake in the fourth quarter worth $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Mizuho increased their target price on Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday. Rosenblatt Securities reiterated a "buy" rating and issued a $205.00 target price on shares of Snowflake in a research note on Monday, May 19th. Wolfe Research upgraded Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 target price on the stock in a research note on Tuesday, February 18th. Daiwa America upgraded Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Finally, Royal Bank of Canada increased their target price on Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $221.28.

Snowflake Stock Performance

SNOW stock traded up $3.20 during trading on Thursday, hitting $212.80. 2,193,239 shares of the company traded hands, compared to its average volume of 6,393,052. The stock's 50-day simple moving average is $166.87 and its 200 day simple moving average is $168.02. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market cap of $71.05 billion, a PE ratio of -62.77 and a beta of 1.21. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $214.83.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results 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 24.23% and a negative net margin of 33.02%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the business earned $0.14 earnings per share. Snowflake's quarterly revenue was up 25.8% on a year-over-year basis. On average, equities analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 685 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the transaction, the executive vice president now owns 622,611 shares of the company's stock, valued at approximately $91,673,243.64. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 849,779 shares of company stock valued at $159,318,643. Company insiders own 6.80% of the company's stock.

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.