Syntax Research Inc. Purchases Shares of 9,563 Snowflake Inc. $SNOW

Syntax Research Inc. purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,563 shares of the company's stock, valued at approximately $2,098,000. Snowflake accounts for approximately 1.3% of Syntax Research Inc.'s portfolio, making the stock its 29th largest holding.

A number of other hedge funds also recently bought and sold shares of SNOW. Brighton Jones LLC boosted its holdings in Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after acquiring an additional 29,320 shares during the period. Intech Investment Management LLC raised its position in shares of Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company's stock valued at $1,637,000 after buying an additional 2,167 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock valued at $47,000 after buying an additional 73 shares during the last quarter. Flow Traders U.S. LLC acquired a new position in shares of Snowflake during the second quarter valued at about $221,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Snowflake by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company's stock valued at $5,055,000 after buying an additional 1,521 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNOW has been the subject of a number of research analyst reports. Scotiabank cut their price objective on shares of Snowflake from $290.00 to $205.00 and set a "sector outperform" rating for the company in a research report on Thursday, February 26th. Needham & Company LLC cut their price objective on shares of Snowflake from $280.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Guggenheim reaffirmed a "neutral" rating on shares of Snowflake in a research report on Wednesday, February 18th. Mizuho cut their price objective on shares of Snowflake from $285.00 to $220.00 and set an "outperform" rating for the company in a research report on Tuesday, February 17th. Finally, Zacks Research raised shares of Snowflake from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and a consensus price target of $242.19.

Snowflake Stock Up 3.5%

NYSE SNOW opened at $141.28 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18. The stock's 50 day moving average is $158.11 and its two-hundred day moving average is $203.04. The company has a market capitalization of $48.84 billion, a price-to-earnings ratio of -35.77 and a beta of 1.08. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $280.67.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The company's quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share. Equities analysts forecast that Snowflake Inc. will post -2.16 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In other news, CAO Emily Ho sold 2,141 shares of the business's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $173.97, for a total value of $372,469.77. Following the sale, the chief accounting officer owned 44,553 shares in the company, valued at approximately $7,750,885.41. The trade was a 4.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vivek Raghunathan sold 3,876 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $152.80, for a total transaction of $592,252.80. Following the completion of the sale, the senior vice president owned 273,323 shares in the company, valued at $41,763,754.40. This represents a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 394,313 shares of company stock valued at $67,477,780. Corporate insiders own 6.80% of the company's stock.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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