Privium Fund Management B.V. trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 36.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,000 shares of the company's stock after selling 27,000 shares during the period. Snowflake comprises approximately 1.9% of Privium Fund Management B.V.'s investment portfolio, making the stock its 11th biggest position. Privium Fund Management B.V.'s holdings in Snowflake were worth $7,127,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in SNOW. PNC Financial Services Group Inc. increased its stake in Snowflake by 7.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 17,908 shares of the company's stock worth $2,617,000 after purchasing an additional 1,193 shares in the last quarter. Generali Powszechne Towarzystwo Emerytalne boosted its holdings in shares of Snowflake by 8.3% in the first quarter. Generali Powszechne Towarzystwo Emerytalne now owns 130,600 shares of the company's stock worth $19,088,000 after buying an additional 10,000 shares during the period. TIAA Trust National Association acquired a new position in shares of Snowflake in the first quarter worth about $18,482,000. Moors & Cabot Inc. increased its position in shares of Snowflake by 13.9% in the first quarter. Moors & Cabot Inc. now owns 2,100 shares of the company's stock worth $307,000 after acquiring an additional 257 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its holdings in shares of Snowflake by 133.6% during the first quarter. Jefferies Financial Group Inc. now owns 14,331 shares of the company's stock valued at $2,095,000 after acquiring an additional 8,196 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.
Insider Buying and Selling
In other news, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the transaction, the chief financial officer directly owned 292,610 shares in the company, valued at $60,090,389.60. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 424,852 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total value of $93,191,286.20. Following the completion of the sale, the director directly owned 165,507 shares of the company's stock, valued at $36,303,960.45. This represents a 71.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,697,855 shares of company stock valued at $586,415,198. Insiders own 6.80% of the company's stock.
Wall Street Analysts Forecast Growth
SNOW has been the subject of a number of recent analyst reports. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Robert W. Baird lifted their price target on Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Cantor Fitzgerald increased their price objective on Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada raised their price objective on Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, BTIG Research reiterated a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $226.73.
Read Our Latest Analysis on SNOW
Snowflake Price Performance
NYSE SNOW opened at $205.07 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $229.27. The company has a fifty day simple moving average of $213.88 and a 200 day simple moving average of $182.72. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a market cap of $68.46 billion, a P/E ratio of -48.71 and a beta of 1.22.
Snowflake (NYSE:SNOW - Get Free Report) last released its 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. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business's revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. On average, sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.
Snowflake Company Profile
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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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