Shepherd Financial Partners LLC Buys New Holdings in Snowflake Inc. (NYSE:SNOW)

Shepherd Financial Partners LLC purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,562 shares of the company's stock, valued at approximately $521,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNOW. Norges Bank purchased a new position in shares of Snowflake in the fourth quarter worth $988,950,000. FMR LLC lifted its stake in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. GQG Partners LLC purchased a new stake in Snowflake in the 4th quarter worth $750,572,000. Geode Capital Management LLC boosted its holdings in shares of 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 last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after purchasing an additional 2,200,406 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SNOW shares. KeyCorp decreased their target price on Snowflake from $220.00 to $192.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Canaccord Genuity Group upped their price objective on Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Daiwa America raised shares of Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Needham & Company LLC restated a "buy" rating and issued a $230.00 price target on shares of Snowflake in a research report on Thursday, June 5th. Finally, Stifel Nicolaus increased their price objective on shares of Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $223.50.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 2,975 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $208.00, for a total value of $618,800.00. Following the completion of the transaction, the executive vice president now directly owns 562,609 shares in the company, valued at approximately $117,022,672. The trade was a 0.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now directly owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 902,546 shares of company stock worth $171,188,169 over the last 90 days. Company insiders own 6.80% of the company's stock.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $211.89 on Thursday. The firm's 50 day simple moving average is $180.43 and its 200-day simple moving average is $171.52. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. Snowflake Inc. has a one year low of $107.13 and a one year high of $214.83. The firm has a market cap of $70.74 billion, a PE ratio of -50.33 and a beta of 1.21.

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, topping 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 company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. The firm's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, equities analysts predict that Snowflake Inc. will post -2.36 EPS for the current 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.

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