Crossmark Global Holdings Inc. Raises Stock Position in Snowflake Inc. (NYSE:SNOW)

Crossmark Global Holdings Inc. grew its holdings in Snowflake Inc. (NYSE:SNOW) by 36.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,196 shares of the company’s stock after buying an additional 587 shares during the period. Crossmark Global Holdings Inc.’s holdings in Snowflake were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in shares of Snowflake in the 1st quarter worth $898,000. Deutsche Bank AG grew its stake in shares of Snowflake by 26.0% in the 4th quarter. Deutsche Bank AG now owns 922,953 shares of the company’s stock worth $142,513,000 after buying an additional 190,583 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of Snowflake in the 1st quarter worth $9,090,000. Ardmore Road Asset Management LP purchased a new position in shares of Snowflake in the 4th quarter worth $18,529,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Snowflake by 413.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 17,546 shares of the company’s stock worth $2,564,000 after buying an additional 14,129 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Trading Down 1.8%

NYSE SNOW opened at $210.64 on Monday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm has a market cap of $70.32 billion, a PE ratio of -50.03 and a beta of 1.22. The company has a 50 day moving average price of $203.53 and a 200 day moving average price of $177.21. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $226.60.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. Snowflake’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 EPS. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the transaction, the chief financial officer owned 292,610 shares in the company, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Garrett sold 67,000 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $198.98, for a total transaction of $13,331,660.00. Following the transaction, the director owned 7,428 shares in the company, valued at $1,478,023.44. The trade was a 90.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,718,258 shares of company stock worth $589,762,906 in the last 90 days. 6.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Snowflake in a research note on Thursday, May 22nd. Oppenheimer reaffirmed an “outperform” rating on shares of Snowflake in a research note on Tuesday, June 24th. Citigroup reaffirmed an “outperform” rating on shares of Snowflake in a research note on Thursday, May 22nd. DA Davidson reaffirmed a “buy” rating and set a $250.00 price target on shares of Snowflake in a research note on Wednesday, June 4th. Finally, Robert W. Baird lifted their price target on shares of Snowflake from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.36.

Snowflake 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.