TigerOak Management L.L.C. Invests $263,000 in Snowflake Inc. (NYSE:SNOW)

TigerOak Management L.L.C. bought a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,800 shares of the company's stock, valued at approximately $263,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Snowflake in the fourth quarter worth $988,950,000. GQG Partners LLC purchased a new position in shares of Snowflake in the fourth quarter worth about $750,572,000. FMR LLC boosted its holdings in Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after acquiring an additional 2,200,406 shares during the period. Finally, Groupama Asset Managment grew its position in Snowflake by 930,132.6% during the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock worth $308,820,000 after acquiring an additional 1,999,785 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SNOW shares. Morgan Stanley initiated coverage on shares of Snowflake in a report on Tuesday. They issued an "overweight" rating and a $262.00 target price on the stock. Scotiabank reissued an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Evercore ISI restated a "buy" rating on shares of Snowflake in a research report on Wednesday, June 4th. Robert W. Baird upped their price objective on shares of Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, HSBC cut Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $225.22.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total transaction of $67,708.03. Following the completion of the transaction, the director now directly owns 25,972 shares of the company's stock, valued at $4,363,555.72. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $225.00, for a total transaction of $1,125,000.00. Following the completion of the sale, the executive vice president now owns 48,568 shares in the company, valued at $10,927,800. This represents a 9.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 622,903 shares of company stock worth $127,235,701 over the last quarter. 6.80% of the stock is currently owned by insiders.

Snowflake Stock Up 0.2%

NYSE:SNOW traded up $0.53 on Friday, reaching $222.45. 4,922,994 shares of the stock traded hands, compared to its average volume of 6,109,963. 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 capitalization of $74.27 billion, a price-to-earnings ratio of -52.84 and a beta of 1.21. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $225.68. The company's fifty day simple moving average is $189.12 and its 200 day simple moving average is $173.05.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The company 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. Equities analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Snowflake Company Profile

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.