Snowflake Inc. (NYSE:SNOW) Shares Acquired by Capital International Investors

Capital International Investors lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 532,573 shares of the company’s stock after acquiring an additional 542 shares during the quarter. Capital International Investors owned 0.16% of Snowflake worth $86,064,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Accent Capital Management LLC purchased a new position in shares of Snowflake during the 4th quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in Snowflake during the first quarter valued at $31,000. Hartford Financial Management Inc. purchased a new stake in shares of Snowflake during the first quarter worth about $32,000. Future Financial Wealth Managment LLC acquired a new position in shares of Snowflake during the 1st quarter worth about $32,000. Finally, FinTrust Capital Advisors LLC lifted its stake in Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

NYSE:SNOW traded down $0.59 during mid-day trading on Friday, reaching $129.00. The stock had a trading volume of 3,377,909 shares, compared to its average volume of 5,308,795. The business has a 50 day simple moving average of $136.95 and a 200 day simple moving average of $165.08. Snowflake Inc. has a twelve month low of $122.60 and a twelve month high of $237.72. The firm has a market capitalization of $43.19 billion, a price-to-earnings ratio of -46.06 and a beta of 0.85.

Snowflake (NYSE:SNOW) last announced 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 for the quarter, compared to analyst estimates of $786.95 million. As a group, sell-side analysts expect that Snowflake Inc. will post -2.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SNOW shares. Canaccord Genuity Group lowered their target price on shares of Snowflake from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. KeyCorp increased their price objective on shares of Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Wedbush reissued a “neutral” rating and issued a $210.00 target price on shares of Snowflake in a research note on Wednesday, June 5th. Mizuho dropped their price target on Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, Scotiabank cut their price target on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $197.31.

Insider Activity

In related news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total value of $2,001,149.92. Following the sale, the executive now owns 354,954 shares in the company, valued at approximately $55,571,598.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Teresa Briggs sold 848 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the sale, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the transaction, the executive now directly owns 354,954 shares of the company’s stock, valued at approximately $55,571,598.24. The disclosure for this sale can be found here. Insiders sold 533,460 shares of company stock worth $66,963,450 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

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.