Mn Services Vermogensbeheer B.V. lessened its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 8.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 102,600 shares of the company's stock after selling 9,000 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Snowflake were worth $14,996,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in SNOW. Opal Wealth Advisors LLC purchased a new position in Snowflake in the first quarter worth about $26,000. CVA Family Office LLC raised its holdings in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after acquiring an additional 88 shares during the last quarter. West Paces Advisors Inc. bought a new position in Snowflake in the 4th quarter valued at approximately $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake during the 4th quarter valued at $31,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Snowflake in the 4th quarter worth $31,000. Institutional investors own 65.10% of the company's stock.
Snowflake Trading Up 1.2%
Shares of SNOW traded up $2.44 during midday trading on Thursday, hitting $211.89. The stock had a trading volume of 4,212,883 shares, compared to its average volume of 6,217,782. The stock's 50 day moving average is $180.43 and its 200 day moving average is $171.52. The firm has a market cap of $70.74 billion, a PE ratio of -50.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $214.83.
Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data 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 net margin of 36.43% and a negative return on equity of 37.75%. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. As a group, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Evercore ISI reaffirmed a "buy" rating on shares of Snowflake in a report on Wednesday, June 4th. Truist Financial upped their target price on shares of Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Guggenheim reissued a "neutral" rating on shares of Snowflake in a report on Thursday, February 27th. Sanford C. Bernstein restated a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Morgan Stanley reaffirmed an "equal weight" rating on shares of Snowflake in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $223.50.
View Our Latest Research Report on SNOW
Insider Activity at Snowflake
In other Snowflake news, Director Frank Slootman sold 7,294 shares of Snowflake stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $208.00, for a total transaction of $1,517,152.00. Following the completion of the sale, the director now directly owns 170,718 shares of the company's stock, valued at $35,509,344. The trade was a 4.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 7,908 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $154.67, for a total value of $1,223,130.36. Following the transaction, the executive vice president now directly owns 600,632 shares in the company, valued at $92,899,751.44. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 902,546 shares of company stock worth $171,188,169 in the last quarter. 6.80% of the stock is owned by company insiders.
About Snowflake
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Free Report)
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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