Snowflake Inc. (NYSE:SNOW) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,981 shares of the company's stock after acquiring an additional 31,908 shares during the period. Envestnet Asset Management Inc. owned about 0.09% of Snowflake worth $43,114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in shares of Snowflake during the first quarter worth about $898,000. Deutsche Bank AG lifted its holdings in Snowflake by 26.0% during the 4th quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock worth $142,513,000 after buying an additional 190,583 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Snowflake during the 1st quarter worth approximately $9,090,000. Ardmore Road Asset Management LP purchased a new position in Snowflake in the 4th quarter valued at approximately $18,529,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Snowflake by 413.5% in the first quarter. Sequoia Financial Advisors LLC now owns 17,546 shares of the company's stock worth $2,564,000 after acquiring an additional 14,129 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Cowen reiterated a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Oppenheimer reissued an "outperform" rating on shares of Snowflake in a research report on Tuesday, June 24th. DA Davidson reaffirmed a "buy" rating and issued a $250.00 target price on shares of Snowflake in a report on Wednesday, June 4th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $250.00 price target (up previously from $225.00) on shares of Snowflake in a research note on Friday, June 13th. 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 two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and an average price target of $225.36.

Snowflake Price Performance

Shares of SNOW stock opened at $210.64 on Friday. The firm has a fifty day simple moving average of $203.53 and a 200-day simple moving average of $177.12. The company has a market capitalization of $70.32 billion, a PE ratio of -50.03 and a beta of 1.22. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $226.60. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94.

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, beating analysts' consensus estimates of $0.22 by $0.02. The company 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 firm's revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. Equities research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of Snowflake stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the sale, the chief financial officer directly owned 292,610 shares in the company, valued at $60,090,389.60. The trade was a 57.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 424,852 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the sale, the director directly owned 165,507 shares of the company's stock, valued at $36,303,960.45. The trade was a 71.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,718,258 shares of company stock worth $589,762,906. 6.80% of the stock is currently owned by corporate insiders.

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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