Keybank National Association OH Buys 2,741 Shares of Snowflake Inc. $SNOW

Keybank National Association OH lifted its stake in Snowflake Inc. (NYSE:SNOW) by 10.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,072 shares of the company’s stock after buying an additional 2,741 shares during the period. Keybank National Association OH’s holdings in Snowflake were worth $4,385,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Diligent Investors LLC boosted its holdings in Snowflake by 0.9% during the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock valued at $1,036,000 after acquiring an additional 40 shares during the period. Wolff Wiese Magana LLC lifted its position in Snowflake by 10.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 549 shares of the company’s stock valued at $120,000 after purchasing an additional 50 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. United Asset Strategies Inc. boosted its stake in shares of Snowflake by 1.4% during the fourth quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock valued at $777,000 after purchasing an additional 50 shares during the period. Finally, Physician Wealth Advisors Inc. boosted its stake in shares of Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after purchasing an additional 51 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 0.2%

Shares of NYSE:SNOW opened at $259.67 on Friday. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99. The firm has a market capitalization of $90.00 billion, a P/E ratio of -73.77 and a beta of 1.35. The stock has a 50 day moving average price of $202.78 and a 200-day moving average price of $190.46. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm’s revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. As a group, equities research analysts anticipate that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the completion of the transaction, the director directly owned 29,396 shares of the company’s stock, valued at $4,356,781.16. This trade represents a 63.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the sale, the director directly owned 8,801 shares in the company, valued at $2,200,250. The trade was a 91.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,798,828 shares of company stock valued at $415,351,838. 4.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNOW. Cantor Fitzgerald lifted their target price on shares of Snowflake from $225.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. The Goldman Sachs Group increased their price target on shares of Snowflake from $216.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Raymond James Financial reissued an “outperform” rating and issued a $275.00 price target on shares of Snowflake in a report on Thursday, May 28th. Canaccord Genuity Group boosted their price objective on shares of Snowflake from $240.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Wells Fargo & Company upped their price objective on shares of Snowflake from $210.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $293.53.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.