Snowflake Inc. (NYSE:SNOW) Shares Purchased by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP increased its holdings in Snowflake Inc. by 132.3% during the first quarter, owning 10,158 shares valued at approximately $1.49 million by the end of the reporting period.
• Analysts have maintained a generally positive outlook on Snowflake, with a consensus rating of "Moderate Buy" and an average target price of $226.73, following several upgrades from firms like Royal Bank of Canada and Barclays.
• Director Frank Slootman sold over 100,000 shares of Snowflake stock recently, marking a notable decrease in his holdings of the company by approximately 37.78%.

GSA Capital Partners LLP grew its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 132.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,158 shares of the company's stock after buying an additional 5,786 shares during the quarter. GSA Capital Partners LLP's holdings in Snowflake were worth $1,485,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake during the 1st quarter worth about $26,000. CVA Family Office LLC lifted its stake in Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after buying an additional 88 shares during the last quarter. West Paces Advisors Inc. purchased a new stake in Snowflake in the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake in the fourth quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNOW. Oppenheimer reiterated an "outperform" rating on shares of Snowflake in a research note on Tuesday, June 24th. Macquarie boosted their price objective on Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. KeyCorp reiterated an "overweight" rating on shares of Snowflake in a research note on Wednesday, June 25th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Citigroup reiterated an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and an average target price of $226.73.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 424,852 shares of the business's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total value of $93,191,286.20. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark Garrett sold 67,000 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $198.98, for a total value of $13,331,660.00. Following the completion of the transaction, the director directly owned 7,428 shares of the company's stock, valued at approximately $1,478,023.44. This trade represents a 90.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,698,258 shares of company stock valued at $586,482,906 over the last three months. 6.80% of the stock is currently owned by insiders.

Snowflake Price Performance

Shares of NYSE SNOW traded up $3.55 during trading on Thursday, reaching $223.83. The company had a trading volume of 6,219,309 shares, compared to its average volume of 2,915,149. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $229.27. The stock has a market capitalization of $74.73 billion, a PE ratio of -53.17 and a beta of 1.22. The stock has a 50-day moving average price of $213.78 and a two-hundred day moving average price of $182.43. 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 released its quarterly earnings results 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 company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, sell-side 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.