Vestor Capital LLC lifted its stake in shares of Snowflake Inc. (NYSE:SNOW – Get Rating) by 121.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,522 shares of the company’s stock after purchasing an additional 9,624 shares during the quarter. Vestor Capital LLC’s holdings in Snowflake were worth $4,015,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of SNOW. Yousif Capital Management LLC acquired a new stake in shares of Snowflake during the 4th quarter worth $966,000. D.A. Davidson & CO. boosted its stake in Snowflake by 6.7% in the fourth quarter. D.A. Davidson & CO. now owns 2,315 shares of the company’s stock valued at $784,000 after buying an additional 145 shares in the last quarter. CWM LLC acquired a new stake in Snowflake in the fourth quarter valued at about $301,000. Qube Research & Technologies Ltd acquired a new stake in Snowflake in the fourth quarter valued at about $5,793,000. Finally, Quadrant Capital Group LLC boosted its stake in Snowflake by 60.0% in the fourth quarter. Quadrant Capital Group LLC now owns 392 shares of the company’s stock valued at $133,000 after buying an additional 147 shares in the last quarter. 76.67% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently weighed in on SNOW shares. Rosenblatt Securities raised Snowflake from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $325.00 to $255.00 in a research note on Tuesday, May 24th. Cowen reduced their price objective on Snowflake from $390.00 to $280.00 in a research note on Monday, May 23rd. Canaccord Genuity Group upgraded Snowflake from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 15th. Jefferies Financial Group upgraded Snowflake from a “hold” rating to a “buy” rating and increased their target price for the company from $125.00 to $200.00 in a research report on Tuesday, June 28th. Finally, Raymond James assumed coverage on Snowflake in a research report on Thursday, June 2nd. They issued an “outperform” rating and a $184.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $219.27.
Snowflake Trading Up 3.0 %
Snowflake (NYSE:SNOW – Get Rating) last announced its quarterly earnings data on Wednesday, May 25th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.13). Snowflake had a negative net margin of 45.48% and a negative return on equity of 12.39%. The firm had revenue of $422.37 million during the quarter, compared to analyst estimates of $413.01 million. During the same period last year, the business posted ($0.69) EPS. The company’s revenue was up 84.5% on a year-over-year basis. As a group, equities analysts expect that Snowflake Inc. will post -2.1 EPS for the current fiscal year.
Insider Buying and Selling at Snowflake
In other Snowflake news, insider Benoit Dageville sold 727 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $136.18, for a total value of $99,002.86. Following the completion of the sale, the insider now owns 16,620 shares of the company’s stock, valued at $2,263,311.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John Dennis Mcmahon sold 1,224 shares of Snowflake stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $155.44, for a total transaction of $190,258.56. Following the transaction, the director now owns 55,659 shares of the company’s stock, valued at $8,651,634.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Benoit Dageville sold 727 shares of Snowflake stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $136.18, for a total value of $99,002.86. Following the transaction, the insider now directly owns 16,620 shares in the company, valued at approximately $2,263,311.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,678 shares of company stock valued at $524,444. Company insiders own 8.90% of the company’s stock.
Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.
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