Brooklyn Investment Group Acquires 533 Shares of Snowflake Inc. (NYSE:SNOW)

Brooklyn Investment Group grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 44.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,722 shares of the company’s stock after buying an additional 533 shares during the period. Brooklyn Investment Group’s holdings in Snowflake were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after purchasing an additional 1,559,830 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after acquiring an additional 249,249 shares during the last quarter. Sands Capital Management LLC grew its position in Snowflake by 12.6% in the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after acquiring an additional 610,970 shares in the last quarter. Norges Bank bought a new stake in Snowflake during the fourth quarter worth approximately $838,455,000. Finally, WCM Investment Management LLC raised its position in Snowflake by 0.6% during the first quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock valued at $298,644,000 after purchasing an additional 11,677 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the transaction, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the sale, the insider now directly owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Emily Ho sold 6,500 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the transaction, the chief accounting officer now owns 36,076 shares of the company’s stock, valued at approximately $5,712,995.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 534,960 shares of company stock valued at $67,198,020. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Performance

SNOW traded down $2.43 during trading on Friday, hitting $135.75. The stock had a trading volume of 8,103,603 shares, compared to its average volume of 6,570,266. The stock has a 50 day simple moving average of $142.81 and a two-hundred day simple moving average of $169.43. Snowflake Inc. has a twelve month low of $122.60 and a twelve month high of $237.72. The company has a market capitalization of $45.45 billion, a PE ratio of -48.48 and a beta of 0.85.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The business had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. On average, equities research analysts anticipate that Snowflake Inc. will post -2.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SNOW. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of Snowflake in a report on Thursday, June 6th. UBS Group increased their target price on shares of Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, May 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $220.00 price target on shares of Snowflake in a research note on Thursday, May 23rd. Robert W. Baird reduced their price objective on shares of Snowflake from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Finally, Scotiabank dropped their target price on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $197.31.

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.