Snowflake Inc. (NYSE:SNOW) Shares Sold by Nemes Rush Group LLC

Nemes Rush Group LLC decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,064 shares of the company’s stock after selling 79 shares during the period. Nemes Rush Group LLC’s holdings in Snowflake were worth $448,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC lifted its position in Snowflake by 84.9% during 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock worth $642,742,000 after acquiring an additional 15,314 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after acquiring an additional 2,200,406 shares during the period. Baillie Gifford & Co. boosted its position in shares of Snowflake by 8.2% during the 1st quarter. Baillie Gifford & Co. now owns 2,928,696 shares of the company’s stock valued at $428,058,000 after acquiring an additional 222,920 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Snowflake by 406.5% in the fourth quarter. Invesco Ltd. now owns 2,441,112 shares of the company’s stock valued at $376,932,000 after purchasing an additional 1,959,137 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $219.55 on Friday. The business has a 50-day simple moving average of $211.09 and a 200-day simple moving average of $180.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. Snowflake Inc. has a one year low of $107.13 and a one year high of $226.60. The company has a market cap of $73.30 billion, a PE ratio of -52.15 and a beta of 1.22.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. On average, equities research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analysts Set New Price Targets

SNOW has been the subject of several recent analyst reports. Raymond James Financial restated an “outperform” rating and set a $212.00 price objective (up from $196.00) on shares of Snowflake in a research report on Thursday, May 22nd. Sanford C. Bernstein restated a “market perform” rating on shares of Snowflake in a report on Thursday, May 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $215.00 price target (up previously from $175.00) on shares of Snowflake in a research report on Wednesday, May 21st. KeyCorp reiterated an “overweight” rating on shares of Snowflake in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. increased their price objective on Snowflake from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.73.

Insider Buying and Selling

In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the sale, the chief financial officer directly owned 292,610 shares in the company, valued at $60,090,389.60. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Garrett sold 67,000 shares of Snowflake stock in a transaction dated 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 sale, the director directly owned 7,428 shares of the company’s stock, valued at $1,478,023.44. This trade represents a 90.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,708,258 shares of company stock worth $588,162,906. Corporate insiders own 6.80% of the company’s stock.

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.