Snowflake Inc. (NYSE:SNOW) is Carroll Investors Inc’s 5th Largest Position

Carroll Investors Inc lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,683 shares of the company’s stock after purchasing an additional 1,186 shares during the period. Snowflake accounts for 8.8% of Carroll Investors Inc’s investment portfolio, making the stock its 5th biggest holding. Carroll Investors Inc’s holdings in Snowflake were worth $11,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Accent Capital Management LLC purchased a new position in Snowflake in the 4th quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in Snowflake in the 1st quarter valued at approximately $29,000. Riverview Trust Co purchased a new position in Snowflake in the 1st quarter valued at approximately $31,000. Hartford Financial Management Inc. purchased a new position in Snowflake in the 1st quarter valued at approximately $32,000. Finally, Future Financial Wealth Managment LLC bought a new position in Snowflake in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 0.5 %

Shares of NYSE:SNOW traded down $0.59 on Friday, hitting $129.00. The company had a trading volume of 3,377,909 shares, compared to its average volume of 5,308,795. The firm’s 50-day simple moving average is $136.95 and its two-hundred day simple moving average is $164.63. Snowflake Inc. has a 1 year low of $122.60 and a 1 year high of $237.72. The firm has a market capitalization of $43.19 billion, a price-to-earnings ratio of -46.07 and a beta of 0.85.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate 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 company had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Equities research analysts anticipate that Snowflake Inc. will post -2.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNOW. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Snowflake in a report on Monday, July 8th. Oppenheimer reissued an “outperform” rating and issued a $220.00 price target on shares of Snowflake in a report on Thursday, May 23rd. Royal Bank of Canada cut their price target on shares of Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Scotiabank cut their price target on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a report on Thursday, May 23rd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price target on shares of Snowflake in a report on Thursday, June 6th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $197.31.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $2,144,700.00. Following the completion of the transaction, the executive vice president now directly owns 733,773 shares of the company’s stock, valued at approximately $104,914,863.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CRO Christopher William Degnan sold 12,782 shares of Snowflake 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $2,144,700.00. Following the transaction, the executive vice president now directly owns 733,773 shares of the company’s stock, valued at $104,914,863.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 533,460 shares of company stock valued at $66,963,450. Company insiders own 7.80% of the company’s stock.

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.