Thurston Springer Miller Herd & Titak Inc. Boosts Stake in Snowflake Inc. (NYSE:SNOW)

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 82.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 694 shares of the company’s stock after acquiring an additional 314 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Snowflake were worth $101,000 at the end of the most recent reporting period.

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

Snowflake Trading Up 0.3%

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 firm has a market cap of $70.37 billion, a PE ratio of -62.18 and a beta of 1.21. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $169.37 and a 200 day moving average price of $169.43.

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

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $205.67, for a total transaction of $2,056,700.00. Following the completion of the transaction, the executive vice president now owns 570,632 shares in the company, valued at approximately $117,361,883.44. The trade was a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Scarpelli sold 400,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $60,090,389.60. This trade represents a 57.75% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 849,779 shares of company stock worth $159,318,643. Company insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SNOW shares. Barclays reissued an “overweight” rating and set a $219.00 price target (up previously from $203.00) on shares of Snowflake in a research report on Thursday, May 22nd. Royal Bank of Canada lifted their target price on shares of Snowflake from $236.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday. Cowen reiterated a “buy” rating on shares of Snowflake in a report on Thursday, May 22nd. Loop Capital raised their price target on shares of Snowflake from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Hsbc Global Res cut Snowflake from a “hold” rating to a “strong sell” rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $221.97.

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.