Sivia Capital Partners LLC Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

Sivia Capital Partners LLC boosted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 28.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,862 shares of the company's stock after purchasing an additional 2,166 shares during the quarter. Snowflake comprises approximately 0.7% of Sivia Capital Partners LLC's portfolio, making the stock its 23rd biggest holding. Sivia Capital Partners LLC's holdings in Snowflake were worth $1,441,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Perkins Coie Trust Co raised its stake in Snowflake by 80.5% in the first quarter. Perkins Coie Trust Co now owns 435 shares of the company's stock valued at $64,000 after purchasing an additional 194 shares in the last quarter. Joule Financial LLC grew its position in Snowflake by 61.8% during the first quarter. Joule Financial LLC now owns 4,904 shares of the company's stock valued at $717,000 after acquiring an additional 1,873 shares during the last quarter. Independence Bank of Kentucky grew its position in Snowflake by 2.2% during the first quarter. Independence Bank of Kentucky now owns 7,122 shares of the company's stock valued at $1,041,000 after acquiring an additional 150 shares during the last quarter. Intellectus Partners LLC grew its position in Snowflake by 0.5% during the first quarter. Intellectus Partners LLC now owns 18,410 shares of the company's stock valued at $2,691,000 after acquiring an additional 100 shares during the last quarter. Finally, Breakwater Capital Group grew its position in Snowflake by 11.4% during the first quarter. Breakwater Capital Group now owns 3,272 shares of the company's stock valued at $478,000 after acquiring an additional 334 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other news, CAO Emily Ho sold 5,027 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $199.06, for a total transaction of $1,000,674.62. Following the completion of the sale, the chief accounting officer now owns 40,608 shares of the company's stock, valued at $8,083,428.48. This represents a 11.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $205.67, for a total transaction of $2,056,700.00. Following the sale, the executive vice president now directly owns 570,632 shares of the company's stock, valued at $117,361,883.44. The trade was a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 849,779 shares of company stock valued at $159,318,643 in the last quarter. 6.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Loop Capital raised their target price on shares of Snowflake from $220.00 to $245.00 and gave the stock a "buy" rating in a report on Wednesday. Macquarie raised their target price on shares of Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday. Guggenheim restated a "neutral" rating on shares of Snowflake in a report on Thursday, February 27th. UBS Group upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and raised their target price for the stock from $210.00 to $265.00 in a report on Wednesday. Finally, Monness Crespi & Hardt raised their target price on shares of Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $221.97.

Snowflake Price Performance

SNOW opened at $210.78 on Friday. The stock has a 50-day moving average price of $169.37 and a 200-day moving average price of $169.15. 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 firm has a market cap of $70.37 billion, a PE ratio of -62.18 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 posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. Snowflake's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. Sell-side analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal 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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