4,730 Shares in Snowflake Inc. (NYSE:SNOW) Bought by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated acquired a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,730 shares of the company's stock, valued at approximately $712,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. ORG Wealth Partners LLC purchased a new stake in Snowflake during the first quarter worth approximately $898,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Snowflake by 455.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock worth $19,174,000 after purchasing an additional 101,806 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in Snowflake during the fourth quarter worth $3,088,000. Deutsche Bank AG boosted its position in Snowflake by 26.0% during the fourth quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock worth $142,513,000 after purchasing an additional 190,583 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in shares of Snowflake in the first quarter valued at $9,090,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 178,949 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $221.16, for a total value of $39,576,360.84. Following the sale, the director directly owned 165,507 shares of the company's stock, valued at $36,603,528.12. This represents a 51.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 1,146 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $217.74, for a total transaction of $249,530.04. Following the completion of the sale, the director directly owned 4,474 shares in the company, valued at $974,168.76. This trade represents a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,294,062 shares of company stock valued at $495,050,427 over the last quarter. 6.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Loop Capital upped their price target on Snowflake from $220.00 to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Piper Sandler restated an "overweight" rating and issued a $215.00 target price (up from $175.00) on shares of Snowflake in a research report on Wednesday, May 21st. HSBC cut Snowflake from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Cowen reissued a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $250.00 price objective (up previously from $225.00) on shares of Snowflake in a research report on Friday, June 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Snowflake has an average rating of "Moderate Buy" and an average target price of $225.36.

Snowflake Stock Performance

Snowflake stock traded down $1.36 during midday trading on Wednesday, reaching $222.14. 1,643,466 shares of the company traded hands, compared to its average volume of 5,305,476. The firm has a market capitalization of $74.16 billion, a price-to-earnings ratio of -52.76 and a beta of 1.22. The business has a 50 day moving average of $200.46 and a two-hundred day moving average of $176.01. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $226.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 earnings per share. As a group, research analysts predict that Snowflake Inc. will post -2.36 earnings per share 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.