CX Institutional Takes Position in Snowflake Inc. (NYSE:SNOW)

CX Institutional bought a new position in Snowflake Inc. (NYSE:SNOW) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 284 shares of the company’s stock, valued at approximately $42,000.

A number of other large investors have also recently made changes to their positions in the company. West Paces Advisors Inc. bought a new stake in shares of Snowflake during the fourth quarter worth $31,000. Spurstone Advisory Services LLC purchased a new position in Snowflake in the 4th quarter worth about $31,000. Capital A Wealth Management LLC purchased a new position in Snowflake in the 4th quarter worth about $31,000. Carolinas Wealth Consulting LLC bought a new stake in Snowflake during the 4th quarter valued at about $32,000. Finally, Quadrant Capital Group LLC boosted its position in Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock valued at $33,000 after buying an additional 91 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SNOW shares. Monness Crespi & Hardt raised their target price on shares of Snowflake from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Scotiabank reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, May 22nd. Mizuho lifted their target price on Snowflake from $215.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. KeyCorp lowered their target price on Snowflake from $220.00 to $192.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Canaccord Genuity Group raised their price target on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.50.

Snowflake Trading Up 0.1%

NYSE:SNOW opened at $209.30 on Wednesday. The company has a market capitalization of $69.88 billion, a P/E ratio of -49.71 and a beta of 1.21. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $214.83. The firm has a fifty day simple moving average of $179.22 and a 200-day simple moving average of $171.24.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. On average, equities research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Transactions at Snowflake

In other news, CAO Emily Ho sold 5,027 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $199.06, for a total value of $1,000,674.62. Following the sale, the chief accounting officer now owns 40,608 shares in the company, valued at $8,083,428.48. This represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 7,908 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the transaction, the executive vice president now owns 600,632 shares of the company’s stock, valued at $92,899,751.44. This represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 892,277 shares of company stock worth $169,052,217 over the last three months. 6.80% of the stock is currently owned by 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.