Snowflake Inc. (NYSE:SNOW) Shares Acquired by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 9.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,591 shares of the company's stock after purchasing an additional 5,197 shares during the quarter. SBI Securities Co. Ltd.'s holdings in Snowflake were worth $8,856,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC increased its stake in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after buying an additional 29,320 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Snowflake during the fourth quarter worth approximately $8,321,000. Independent Advisor Alliance increased its stake in shares of Snowflake by 25.7% during the fourth quarter. Independent Advisor Alliance now owns 5,126 shares of the company's stock worth $792,000 after buying an additional 1,048 shares during the period. Moors & Cabot Inc. purchased a new position in Snowflake in the fourth quarter valued at approximately $285,000. Finally, PFG Advisors purchased a new position in Snowflake in the fourth quarter valued at approximately $267,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on SNOW shares. Scotiabank reiterated an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Evercore ISI reiterated a "buy" rating on shares of Snowflake in a research note on Wednesday, June 4th. Bank of America increased their price target on shares of Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Morgan Stanley started coverage on shares of Snowflake in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $262.00 price target on the stock. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $205.00 price target on shares of Snowflake in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $225.36.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 424,852 shares of Snowflake stock in a transaction 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 completion of the transaction, the director 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 400,000 shares of Snowflake stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the transaction, the chief financial officer directly owned 292,610 shares of the company's stock, valued at $60,090,389.60. This trade represents a 57.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,718,258 shares of company stock valued at $589,762,906 in the last 90 days. 6.80% of the stock is currently owned by insiders.

Snowflake Price Performance

Snowflake stock opened at $210.64 on Monday. Snowflake Inc. has a one year low of $107.13 and a one year high of $226.60. 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 business has a fifty day moving average of $203.53 and a two-hundred day moving average of $177.21. The company has a market cap of $70.32 billion, a P/E ratio of -50.03 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last released 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 business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business's revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.

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