Snowflake Inc. (NYSE:SNOW) Shares Sold by Stablepoint Partners LLC

Stablepoint Partners LLC lessened its stake in Snowflake Inc. (NYSE:SNOW) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,124 shares of the company’s stock after selling 253 shares during the quarter. Stablepoint Partners LLC’s holdings in Snowflake were worth $895,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $215.00 price target (up previously from $175.00) on shares of Snowflake in a research note on Wednesday, May 21st. Daiwa Capital Markets started coverage on shares of Snowflake in a research report on Tuesday, April 1st. They issued a “buy” rating and a $210.00 target price on the stock. HSBC lowered shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Raymond James reissued an “outperform” rating and issued a $212.00 price target (up from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $230.00 price objective on shares of Snowflake in a report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $221.97.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 685 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $100,859.40. Following the completion of the transaction, the executive vice president now owns 622,611 shares in the company, valued at $91,673,243.64. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the sale, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 849,779 shares of company stock worth $159,318,643 over the last three months. Insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $210.78 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $214.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $70.37 billion, a PE ratio of -62.18 and a beta of 1.21. The business’s fifty day moving average price is $169.37 and its 200 day moving average price is $169.15.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS. On average, sell-side analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.