Peak Asset Management LLC Has $508,000 Stake in Snowflake Inc. (NYSE:SNOW)

Peak Asset Management LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 24.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,475 shares of the company’s stock after selling 1,103 shares during the quarter. Peak Asset Management LLC’s holdings in Snowflake were worth $508,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Quarry LP increased its holdings in Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after buying an additional 59 shares during the last quarter. Ignite Planners LLC increased its holdings in Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock worth $418,000 after buying an additional 64 shares during the last quarter. Gabelli Funds LLC increased its holdings in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after buying an additional 65 shares during the last quarter. Archford Capital Strategies LLC increased its holdings in Snowflake by 1.9% during the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock worth $527,000 after buying an additional 68 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in Snowflake by 8.9% during the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock worth $122,000 after buying an additional 68 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNOW. Piper Sandler restated an “overweight” rating and set a $215.00 target price (up from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Scotiabank reiterated an “outperform” rating on shares of Snowflake in a report on Thursday, May 22nd. HSBC downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Loop Capital upped their price objective on shares of Snowflake from $220.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Snowflake in a report on Thursday, May 22nd. Two 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 issued a strong buy rating to the stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $226.73.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $221.47, for a total value of $89,252.41. Following the transaction, the director owned 26,539 shares in the company, valued at $5,877,592.33. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 100,483 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $223.55, for a total value of $22,462,974.65. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at $36,999,089.85. This represents a 37.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,708,258 shares of company stock worth $588,162,906. 6.80% of the stock is currently owned by insiders.

Snowflake Trading Up 2.1%

Shares of Snowflake stock opened at $219.55 on Friday. 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 52 week low of $107.13 and a 52 week high of $226.60. The stock has a 50 day moving average price of $211.09 and a two-hundred day moving average price of $180.95. The stock has a market capitalization of $73.30 billion, a PE ratio of -52.15 and a beta of 1.22.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm posted $0.14 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.