Allianz Asset Management GmbH Grows Stock Position in Snowflake Inc. (NYSE:SNOW)

Allianz Asset Management GmbH boosted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 767.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,557 shares of the company's stock after acquiring an additional 111,966 shares during the period. Allianz Asset Management GmbH's holdings in Snowflake were worth $18,498,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in Snowflake during the 1st quarter valued at about $26,000. CVA Family Office LLC lifted its position in Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares during the period. West Paces Advisors Inc. acquired a new position in shares of Snowflake during the 4th quarter valued at $31,000. Spurstone Advisory Services LLC bought a new stake in shares of Snowflake in the 4th quarter worth $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at $31,000. 65.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the completion of the sale, the executive vice president directly owned 547,336 shares in the company, valued at approximately $119,806,377.04. The trade was a 1.79% 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 Frank Slootman sold 100,483 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $223.55, for a total transaction of $22,462,974.65. Following the sale, the director directly owned 165,507 shares in the company, valued at $36,999,089.85. This trade represents a 37.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,708,258 shares of company stock worth $588,162,906 over the last ninety days. Insiders own 6.80% of the company's stock.

Snowflake Stock Up 2.1%

Shares of NYSE SNOW traded up $4.53 during mid-day trading on Friday, reaching $219.55. 3,256,701 shares of the company were exchanged, compared to its average volume of 3,105,871. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $226.60. The firm has a 50-day moving average of $211.09 and a 200 day moving average of $180.82. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market cap of $73.30 billion, a price-to-earnings ratio of -52.15 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last posted 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 return on equity of 37.75% and a negative net margin of 36.43%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the firm earned $0.14 EPS. The business's quarterly revenue was up 25.8% on a year-over-year basis. On average, research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research reports. Wells Fargo & Company reiterated an "overweight" rating and issued a $250.00 target price (up from $225.00) on shares of Snowflake in a report on Friday, June 13th. Scotiabank reaffirmed an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Daiwa Capital Markets initiated coverage on Snowflake in a research note on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price target for the company. Piper Sandler reiterated an "overweight" rating and issued a $215.00 target price (up from $175.00) on shares of Snowflake in a research note on Wednesday, May 21st. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $226.73.

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.