Gainplan LLC Takes $375,000 Position in Snowflake Inc. (NYSE:SNOW)

Gainplan LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,564 shares of the company’s stock, valued at approximately $375,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in Snowflake during the 4th quarter valued at about $29,000. West Paces Advisors Inc. purchased a new stake in Snowflake in the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake during the 4th quarter valued at $31,000. Capital A Wealth Management LLC purchased a new position in shares of Snowflake during the 4th quarter valued at $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in shares of Snowflake during the fourth quarter worth $32,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $209.44 on Thursday. The firm has a market capitalization of $69.92 billion, a PE ratio of -61.78 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 Inc. has a 12-month low of $107.13 and a 12-month high of $214.83. The firm has a 50-day moving average price of $166.87 and a 200 day moving average price of $168.02.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned $0.14 EPS. Snowflake’s revenue was up 25.8% on a year-over-year basis. Research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on SNOW. Morgan Stanley reaffirmed an “equal weight” rating on shares of Snowflake in a research report on Thursday, May 22nd. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price for the company in a research report on Tuesday, February 18th. Raymond James reaffirmed an “outperform” rating and issued a $212.00 price objective (up previously from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Piper Sandler reissued an “overweight” rating and set a $215.00 target price (up from $175.00) on shares of Snowflake in a research report on Wednesday, May 21st. Finally, Robert W. Baird upped their price target on Snowflake from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $221.28.

Insider Activity

In other news, EVP Christian Kleinerman sold 685 shares of Snowflake stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $100,859.40. Following the completion of the transaction, the executive vice president now owns 622,611 shares in the company, valued at approximately $91,673,243.64. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 1,783 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the sale, the director now directly owns 192,511 shares of the company’s stock, valued at $28,345,319.64. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 849,779 shares of company stock worth $159,318,643. Corporate insiders own 6.80% of the company’s stock.

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, as well as applies artificial intelligence (AI) for solving business problems.