Zevenbergen Capital Investments LLC Purchases 58,078 Shares of Snowflake Inc. (NYSE:SNOW)

Key Points

• Zevenbergen Capital Investments LLC increased its stake in Snowflake Inc. by 23.1%, purchasing an additional 58,078 shares, bringing its total to 309,780 shares.
• Snowflake's stock performance shows a market cap of $64.08 billion with a 52-week high of $229.27 and a low of $107.13.
• Insiders have sold a total of 3,014,642 shares in the last quarter, valued at approximately $657 million, indicating significant trading activity among company executives.

Zevenbergen Capital Investments LLC increased its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 309,780 shares of the company's stock after purchasing an additional 58,078 shares during the quarter. Snowflake makes up about 1.1% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 26th biggest position. Zevenbergen Capital Investments LLC owned approximately 0.09% of Snowflake worth $45,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNOW. Opal Wealth Advisors LLC bought a new position in Snowflake in the first quarter worth approximately $26,000. CVA Family Office LLC boosted its position in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. West Paces Advisors Inc. bought a new stake in Snowflake during the 4th quarter valued at $31,000. Spurstone Advisory Services LLC bought a new stake in Snowflake during the 4th quarter valued at $31,000. Finally, Capital A Wealth Management LLC bought a new stake in Snowflake during the 4th quarter valued at $31,000. Institutional investors own 65.10% of the company's stock.

Snowflake Stock Performance

NYSE SNOW opened at $191.94 on Friday. The stock has a 50-day simple moving average of $213.98 and a two-hundred day simple moving average of $183.97. The firm has a market capitalization of $64.08 billion, a P/E ratio of -45.59 and a beta of 1.22. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $229.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company's revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. On average, equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Transactions at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of Snowflake stock in a transaction dated 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 owned 292,610 shares in the company, valued at approximately $60,090,389.60. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 424,852 shares of Snowflake stock in a transaction dated 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 transaction, the director owned 165,507 shares of the company's stock, valued at $36,303,960.45. The trade was a 71.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,014,642 shares of company stock valued at $657,325,186 in the last quarter. Company insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SNOW. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Hsbc Global Res cut Snowflake from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. UBS Group raised Snowflake from a "neutral" rating to a "buy" rating and increased their target price for the company from $210.00 to $265.00 in a research report on Wednesday, June 4th. KeyCorp reaffirmed an "overweight" rating on shares of Snowflake in a research report on Wednesday, June 25th. Finally, Jefferies Financial Group increased their target price on Snowflake from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $226.73.

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.

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