Brighton Jones LLC lifted its stake in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,183 shares of the company’s stock after buying an additional 850 shares during the quarter. Snowflake comprises about 0.5% of Brighton Jones LLC’s holdings, making the stock its 29th biggest holding. Brighton Jones LLC’s holdings in Snowflake were worth $8,051,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of SNOW. B & T Capital Management DBA Alpha Capital Management increased its holdings in shares of Snowflake by 0.8% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 7,943 shares of the company’s stock valued at $1,140,000 after acquiring an additional 66 shares during the period. Global Retirement Partners LLC increased its stake in Snowflake by 14.7% in the 1st quarter. Global Retirement Partners LLC now owns 600 shares of the company’s stock valued at $87,000 after buying an additional 77 shares during the period. Amalgamated Bank increased its stake in Snowflake by 0.3% in the 4th quarter. Amalgamated Bank now owns 34,484 shares of the company’s stock valued at $4,950,000 after buying an additional 89 shares during the period. Asset Management Advisors LLC increased its stake in Snowflake by 0.3% in the 1st quarter. Asset Management Advisors LLC now owns 30,136 shares of the company’s stock valued at $4,650,000 after buying an additional 90 shares during the period. Finally, Bogart Wealth LLC increased its stake in Snowflake by 58.8% in the 4th quarter. Bogart Wealth LLC now owns 270 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 63.55% of the company’s stock.
Snowflake Price Performance
NYSE:SNOW traded down $10.34 on Tuesday, reaching $156.33. The stock had a trading volume of 11,713,886 shares, compared to its average volume of 5,900,186. The company has a market cap of $50.95 billion, a price-to-earnings ratio of -59.08 and a beta of 0.75. The firm’s fifty day moving average is $175.23 and its two-hundred day moving average is $159.96. Snowflake Inc. has a 12-month low of $119.27 and a 12-month high of $205.66.
Snowflake (NYSE:SNOW – Get Free Report) last posted its quarterly earnings data on Wednesday, May 24th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.24). Snowflake had a negative net margin of 37.78% and a negative return on equity of 14.81%. The company had revenue of $623.60 million for the quarter, compared to analyst estimates of $607.57 million. As a group, research analysts forecast that Snowflake Inc. will post -1.48 earnings per share for the current fiscal year.
Insider Activity
In other news, SVP Christian Kleinerman sold 724 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $174.31, for a total transaction of $126,200.44. Following the completion of the transaction, the senior vice president now owns 744,204 shares of the company’s stock, valued at approximately $129,722,199.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Christian Kleinerman sold 724 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $174.31, for a total transaction of $126,200.44. Following the completion of the sale, the senior vice president now owns 744,204 shares of the company’s stock, valued at approximately $129,722,199.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank Slootman sold 8,334 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $168.35, for a total transaction of $1,403,028.90. Following the sale, the chief executive officer now directly owns 185,683 shares of the company’s stock, valued at approximately $31,259,733.05. The disclosure for this sale can be found here. Insiders sold a total of 645,395 shares of company stock valued at $114,632,967 in the last 90 days. 8.30% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. William Blair assumed coverage on shares of Snowflake in a research note on Wednesday, June 28th. They issued an “outperform” rating on the stock. Oppenheimer boosted their price objective on shares of Snowflake from $190.00 to $220.00 in a research note on Monday, July 17th. JMP Securities dropped their price objective on shares of Snowflake from $215.00 to $200.00 in a research note on Thursday, May 25th. Needham & Company LLC boosted their price objective on shares of Snowflake from $180.00 to $216.00 in a research note on Wednesday, June 21st. Finally, BNP Paribas upgraded shares of Snowflake from an “underperform” rating to a “neutral” rating and set a $173.00 target price on the stock in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.69.
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.