Snowflake Inc. (NYSE:SNOW) Stock Holdings Decreased by Means Investment CO. Inc.

Means Investment CO. Inc. lowered its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 28.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,678 shares of the company's stock after selling 1,893 shares during the period. Means Investment CO. Inc.'s holdings in Snowflake were worth $684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP boosted its holdings in shares of Snowflake by 9.8% in the 4th 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. Gabelli Funds LLC boosted its holdings in shares of Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after buying an additional 65 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after buying an additional 69 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Snowflake by 21.8% in the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after buying an additional 74 shares during the period. Finally, Landscape Capital Management L.L.C. boosted its holdings in shares of Snowflake by 3.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 2,627 shares of the company's stock valued at $406,000 after buying an additional 77 shares during the period. Institutional investors own 65.10% of the company's stock.

Insider Activity

In other news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. The trade was a 50.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 894,638 shares of company stock worth $169,965,038 over the last 90 days. 6.80% of the stock is owned by company insiders.

Analyst Ratings Changes

SNOW has been the subject of several research reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $205.00 price target on shares of Snowflake in a report on Monday, May 19th. Macquarie lifted their price target on shares of Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Monness Crespi & Hardt boosted their target price on shares of Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Oppenheimer boosted their target price on shares of Snowflake from $225.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. Finally, JMP Securities reissued a "market outperform" rating and set a $245.00 target price on shares of Snowflake in a research note on Wednesday, June 4th. 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $223.50.

Snowflake Stock Up 1.2%

NYSE SNOW opened at $211.89 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The company's 50 day simple moving average is $181.78 and its 200 day simple moving average is $171.80. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $214.83. The company has a market capitalization of $70.74 billion, a P/E ratio of -50.33 and a beta of 1.21.

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

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.

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