Watershed Private Wealth LLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Watershed Private Wealth LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 2,375 shares of the company's stock, valued at approximately $347,000.

A number of other institutional investors have also modified their holdings of SNOW. Quarry LP grew its stake in shares of Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after buying an additional 59 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after acquiring an additional 65 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after acquiring an additional 69 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after purchasing an additional 74 shares during the period. Finally, Landscape Capital Management L.L.C. lifted its position in shares of Snowflake by 3.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 2,627 shares of the company's stock worth $406,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SNOW shares. UBS Group raised shares of Snowflake from a "neutral" rating to a "buy" rating and raised their price target for the company from $210.00 to $265.00 in a report on Wednesday. Daiwa America raised Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. Barclays reiterated an "overweight" rating and issued a $219.00 price target (up previously from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. Daiwa Capital Markets started coverage on Snowflake in a research note on Tuesday, April 1st. They set a "buy" rating and a $210.00 price objective for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $245.00 target price on shares of Snowflake in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $221.28.

Snowflake Stock Performance

NYSE SNOW traded up $0.39 on Thursday, hitting $209.99. The stock had a trading volume of 5,229,333 shares, compared to its average volume of 6,404,525. The company's 50-day moving average is $166.87 and its two-hundred day moving average is $168.02. Snowflake Inc. has a one year low of $107.13 and a one year high of $214.83. The stock has a market cap of $70.11 billion, a price-to-earnings ratio of -61.94 and a beta of 1.21. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm's revenue was up 25.8% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. On average, analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity

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 shares were sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 685 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the transaction, the executive vice president now owns 622,611 shares of the company's stock, valued at $91,673,243.64. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 849,779 shares of company stock valued at $159,318,643. Company insiders own 6.80% of the company's stock.

Snowflake 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.