Brookwood Investment Group LLC Invests $223,000 in Snowflake Inc. (NYSE:SNOW)

Brookwood Investment Group LLC bought a new position in Snowflake Inc. (NYSE:SNOW) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,527 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds have also recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after buying an additional 2,805,425 shares during the last quarter. Geode Capital Management LLC boosted its position in Snowflake by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock worth $642,742,000 after purchasing an additional 15,314 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after purchasing an additional 2,200,406 shares in the last quarter. Invesco Ltd. boosted its position in Snowflake by 406.5% during the fourth quarter. Invesco Ltd. now owns 2,441,112 shares of the company’s stock worth $376,932,000 after purchasing an additional 1,959,137 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Snowflake by 16.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,253,476 shares of the company’s stock worth $347,959,000 after purchasing an additional 317,697 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Loop Capital increased their price target on Snowflake from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. HSBC downgraded Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. KeyCorp reiterated an “overweight” rating on shares of Snowflake in a research report on Wednesday, June 25th. Evercore ISI reiterated a “buy” rating on shares of Snowflake in a research report on Wednesday, June 4th. Finally, Truist Financial increased their price target on Snowflake from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $226.73.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 424,852 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the completion of the transaction, the director directly owned 165,507 shares in the company, valued at $36,303,960.45. This trade represents a 71.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark Garrett sold 67,000 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $198.98, for a total value of $13,331,660.00. Following the transaction, the director owned 7,428 shares of the company’s stock, valued at approximately $1,478,023.44. This represents a 90.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,708,258 shares of company stock worth $588,162,906 over the last ninety days. Company insiders own 6.80% of the company’s stock.

Snowflake Trading Up 2.1%

Shares of SNOW stock opened at $219.55 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market cap of $73.30 billion, a PE ratio of -52.15 and a beta of 1.22. The company has a 50-day moving average of $211.09 and a two-hundred day moving average of $180.95. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $226.60.

Snowflake (NYSE:SNOW) last announced 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. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. Snowflake’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. On average, analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

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.