Neville Rodie & Shaw Inc. Buys 610 Shares of Snowflake Inc. (NYSE:SNOW)

Neville Rodie & Shaw Inc. increased its stake in Snowflake Inc. (NYSE:SNOW) by 30.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,610 shares of the company’s stock after purchasing an additional 610 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Snowflake were worth $381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC bought a new position in shares of Snowflake in the 4th quarter worth approximately $29,000. West Paces Advisors Inc. purchased a new stake in Snowflake during the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake in the fourth quarter worth approximately $31,000. Capital A Wealth Management LLC purchased a new position in shares of Snowflake during the 4th quarter worth $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in shares of Snowflake during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $202.40 on Friday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $209.80. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average is $162.77 and its 200 day moving average is $165.80. The company has a market cap of $67.57 billion, a price-to-earnings ratio of -59.70 and a beta of 1.11.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $0.14 EPS. The business’s revenue was up 25.8% compared to the same quarter last year. Sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Emily Ho sold 5,027 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $199.06, for a total transaction of $1,000,674.62. Following the completion of the sale, the chief accounting officer now owns 40,608 shares of the company’s stock, valued at $8,083,428.48. This trade represents a 11.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 849,779 shares of company stock valued at $158,838,193 over the last ninety days. 7.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SNOW shares. Royal Bank of Canada set a $236.00 price objective on Snowflake and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Macquarie raised their price objective on Snowflake from $160.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Monness Crespi & Hardt lifted their price objective on Snowflake from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Robert W. Baird increased their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Finally, Oppenheimer restated an “outperform” rating and set a $225.00 target price (up previously from $210.00) on shares of Snowflake in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.33.

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.