Snowflake Inc. (NYSE:SNOW) Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC raised its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 388.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,371 shares of the company's stock after purchasing an additional 19,381 shares during the period. Pallas Capital Advisors LLC's holdings in Snowflake were worth $3,562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SNOW. Farther Finance Advisors LLC lifted its position in shares of Snowflake by 29.2% in the 1st quarter. Farther Finance Advisors LLC now owns 4,801 shares of the company's stock worth $718,000 after purchasing an additional 1,085 shares during the period. CMH Wealth Management LLC boosted its position in Snowflake by 4.8% during the first quarter. CMH Wealth Management LLC now owns 51,829 shares of the company's stock valued at $7,575,000 after purchasing an additional 2,385 shares in the last quarter. Wesbanco Bank Inc. bought a new stake in Snowflake during the first quarter valued at about $2,826,000. Capital Investment Advisors LLC boosted its position in Snowflake by 21.0% during the first quarter. Capital Investment Advisors LLC now owns 3,106 shares of the company's stock valued at $454,000 after purchasing an additional 539 shares in the last quarter. Finally, OLD National Bancorp IN boosted its position in Snowflake by 22.3% during the first quarter. OLD National Bancorp IN now owns 1,934 shares of the company's stock valued at $283,000 after purchasing an additional 352 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Transactions at Snowflake

In other Snowflake news, CAO Emily Ho sold 5,027 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $199.06, for a total transaction of $1,000,674.62. Following the sale, the chief accounting officer now owns 40,608 shares of the company's stock, valued at approximately $8,083,428.48. This trade represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 548 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $209.96, for a total transaction of $115,058.08. Following the sale, the executive vice president now directly owns 568,617 shares in the company, valued at approximately $119,386,825.32. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 900,459 shares of company stock valued at $170,184,739. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Trading Up 0.1%

SNOW traded up $0.25 during mid-day trading on Wednesday, hitting $208.49. 5,134,394 shares of the stock were exchanged, compared to its average volume of 6,294,850. The firm's fifty day moving average is $171.87 and its two-hundred day moving average is $169.99. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $214.83. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $69.61 billion, a PE ratio of -61.50 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company posted $0.14 earnings per share. The business's revenue for the quarter was up 25.8% on a year-over-year basis. Equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. KeyCorp cut their price target on shares of Snowflake from $220.00 to $192.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Hsbc Global Res downgraded Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. UBS Group upgraded Snowflake from a "neutral" rating to a "buy" rating and upped their target price for the stock from $210.00 to $265.00 in a research note on Wednesday, June 4th. Truist Financial raised their price target on shares of Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Daiwa Capital Markets assumed coverage on shares of Snowflake in a research report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $222.81.

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.