1,400 Shares in Snowflake Inc. (NYSE:SNOW) Purchased by Elkhorn Partners Limited Partnership

Elkhorn Partners Limited Partnership bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,400 shares of the company’s stock, valued at approximately $226,000.

Other institutional investors have also made changes to their positions in the company. Accent Capital Management LLC purchased a new position in shares of Snowflake during the 4th quarter valued at $25,000. LRI Investments LLC acquired a new stake in shares of Snowflake during the 1st quarter valued at about $29,000. Riverview Trust Co acquired a new stake in shares of Snowflake during the 1st quarter valued at about $31,000. Hartford Financial Management Inc. acquired a new position in Snowflake in the first quarter worth approximately $32,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Snowflake in the first quarter valued at approximately $32,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

NYSE SNOW traded down $0.68 during trading on Tuesday, reaching $128.89. 6,451,955 shares of the company traded hands, compared to its average volume of 6,447,764. Snowflake Inc. has a 1-year low of $122.60 and a 1-year high of $237.72. The company has a market cap of $43.15 billion, a price-to-earnings ratio of -46.03 and a beta of 0.85. The stock’s 50 day moving average price is $135.57 and its two-hundred day moving average price is $163.73.

Snowflake (NYSE:SNOW) last announced its quarterly 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 net margin of 30.80% and a negative return on equity of 15.99%. The company had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Equities research analysts expect that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on SNOW shares. Canaccord Genuity Group dropped their price target 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. The Goldman Sachs Group reissued a “buy” rating and set a $220.00 target price on shares of Snowflake in a research report on Monday, July 1st. JPMorgan Chase & Co. boosted their price target on Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Piper Sandler lowered their price objective on Snowflake from $240.00 to $165.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Robert W. Baird cut their price objective on Snowflake from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Benoit Dageville sold 558 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the sale, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $2,144,700.00. Following the completion of the sale, the executive vice president now 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 quarter, insiders have sold 533,460 shares of company stock valued at $66,963,450. 7.80% of the stock is owned by insiders.

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.