Praxis Investment Management Inc. Has $1.25 Million Position in Snowflake Inc. (NYSE:SNOW)

Praxis Investment Management Inc. lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,540 shares of the company’s stock after selling 460 shares during the quarter. Praxis Investment Management Inc.’s holdings in Snowflake were worth $1,248,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SNOW. ORG Wealth Partners LLC bought a new stake in shares of Snowflake in the 1st quarter valued at about $898,000. Kirtland Hills Capital Management LLC lifted its stake in shares of Snowflake by 40.1% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock worth $2,458,000 after acquiring an additional 4,559 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Snowflake by 455.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company’s stock valued at $19,174,000 after acquiring an additional 101,806 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new stake in Snowflake in the fourth quarter valued at approximately $3,088,000. Finally, GraniteShares Advisors LLC acquired a new stake in Snowflake during the 4th quarter valued at approximately $781,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Frank Slootman sold 7,294 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $208.00, for a total transaction of $1,517,152.00. Following the completion of the transaction, the director now directly owns 170,718 shares in the company, valued at $35,509,344. The trade was a 4.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares in the company, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 894,638 shares of company stock valued at $169,965,038. Corporate insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $211.84 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The business’s 50 day simple moving average is $183.12 and its 200 day simple moving average is $171.94. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $215.99. The company has a market cap of $70.73 billion, a price-to-earnings ratio of -50.32 and a beta of 1.21.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNOW. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. DA Davidson reissued a “buy” rating and issued a $250.00 price objective on shares of Snowflake in a research report on Wednesday, June 4th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Snowflake in a research note on Thursday, June 5th. CICC Research began coverage on shares of Snowflake in a research report on Friday. They set an “outperform” rating and a $225.00 price objective for the company. Finally, Raymond James Financial restated an “outperform” rating and issued a $212.00 target price (up from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $223.54.

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.