Silvercrest Asset Management Group LLC Buys New Stake in Snowflake Inc. (NYSE:SNOW)

Silvercrest Asset Management Group LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,679 shares of the company's stock, valued at approximately $259,000.

Several other large investors also recently made changes to their positions in SNOW. Prospect Financial Services LLC acquired a new position in shares of Snowflake during the fourth quarter valued at approximately $288,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after acquiring an additional 8,857 shares during the period. Bourgeon Capital Management LLC acquired a new position in shares of Snowflake during the fourth quarter valued at approximately $5,851,000. Stephens Consulting LLC increased its stake in shares of Snowflake by 7,407.4% during the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock valued at $313,000 after acquiring an additional 2,000 shares during the period. Finally, Kirtland Hills Capital Management LLC increased its stake in shares of Snowflake by 40.1% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock valued at $2,458,000 after acquiring an additional 4,559 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Buying and Selling

In related news, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now owns 192,511 shares in the company, valued at $28,345,319.64. This trade represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,963 shares of company stock worth $58,204,058 in the last quarter. 7.80% of the stock is currently owned by company insiders.

Snowflake Stock Down 1.6%

Shares of SNOW stock traded down $3.19 on Friday, hitting $199.99. The company's stock had a trading volume of 11,901,781 shares, compared to its average volume of 6,474,139. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $205.40. The firm's fifty day moving average price is $159.20 and its 200-day moving average price is $163.56. The stock has a market capitalization of $66.02 billion, a price-to-earnings ratio of -58.99 and a beta of 1.11.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business earned $0.14 EPS. Snowflake's quarterly revenue was up 25.8% compared to the same quarter last year. Research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on SNOW shares. Monness Crespi & Hardt raised their price objective on shares of Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday. Wells Fargo & Company restated an "overweight" rating and issued a $225.00 price target (up previously from $200.00) on shares of Snowflake in a research report on Thursday. HSBC lowered shares of Snowflake from a "hold" rating to a "sell" rating in a research report on Thursday. Macquarie lifted their price target on shares of Snowflake from $160.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Raymond James restated an "outperform" rating and issued a $212.00 price target (up previously from $196.00) on shares of Snowflake in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and an average target price of $217.33.

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.