Nvwm LLC Grows Position in Snowflake Inc. (NYSE:SNOW)

Key Points

• Nvwm LLC significantly increased its stake in Snowflake Inc. by 5,210.2% during Q1, now holding a total of 6,266 shares valued at $916,000.
• Snowflake's stock has seen a 52-week high of $226.60 and reported a 25.8% year-over-year revenue growth of $1.04 billion in its latest quarterly earnings.
• Insider trading activity included Director Mark Garrett selling 67,000 shares and CFO Michael Scarpelli selling 400,000 shares, representing significant decreases in their ownership stakes.

Nvwm LLC lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 5,210.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,266 shares of the company's stock after purchasing an additional 6,148 shares during the quarter. Nvwm LLC's holdings in Snowflake were worth $916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Quarry LP lifted its holdings in shares of Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after buying an additional 59 shares during the period. Ignite Planners LLC lifted its holdings in shares of Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock valued at $418,000 after purchasing an additional 64 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after purchasing an additional 65 shares during the last quarter. Archford Capital Strategies LLC raised its position in Snowflake by 1.9% during the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock valued at $527,000 after buying an additional 68 shares during the period. Finally, TD Private Client Wealth LLC increased its position in Snowflake by 8.9% in the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock worth $122,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 100,483 shares of Snowflake stock in a transaction dated 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 1,146 shares of Snowflake stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total transaction of $249,530.04. Following the sale, the director owned 4,474 shares of the company's stock, valued at approximately $974,168.76. This represents a 20.39% 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 valued at $588,162,906 in the last ninety days. 6.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

Shares of NYSE:SNOW traded down $0.77 during midday trading on Monday, hitting $218.74. The company's stock had a trading volume of 3,441,262 shares, compared to its average volume of 5,105,664. The business's 50 day simple moving average is $211.09 and its 200 day simple moving average is $181.09. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market cap of $73.03 billion, a P/E ratio of -51.96 and a beta of 1.22. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $226.60.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company's revenue for the quarter was up 25.8% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. On average, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Daiwa Capital Markets initiated coverage on Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price objective on the stock. BTIG Research reaffirmed a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. JMP Securities raised their target price on Snowflake from $245.00 to $260.00 and gave the company a "market outperform" rating in a report on Friday, July 18th. Finally, Cantor Fitzgerald raised their price objective on Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and an average price target of $226.73.

Snowflake 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.