Snowflake Inc. (NYSE:SNOW) Stake Lifted by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group increased its position in Snowflake Inc. (NYSE:SNOW) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,655 shares of the company’s stock after buying an additional 121 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Snowflake were worth $267,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Accent Capital Management LLC purchased a new stake in shares of Snowflake during the fourth quarter valued at $25,000. FinTrust Capital Advisors LLC raised its position in Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after buying an additional 128 shares during the period. Riverview Trust Co acquired a new position in Snowflake during the first quarter valued at $31,000. M&R Capital Management Inc. raised its position in Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after buying an additional 100 shares during the period. Finally, Hartford Financial Management Inc. acquired a new position in Snowflake during the first quarter valued at $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SNOW shares. Loop Capital dropped their price target on Snowflake from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. KeyCorp increased their target price on Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Wedbush restated a “neutral” rating and set a $210.00 target price on shares of Snowflake in a research note on Wednesday, June 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Snowflake in a report on Monday. Finally, JPMorgan Chase & Co. upped their price target on Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.46.

Snowflake Trading Down 0.3 %

Shares of NYSE:SNOW traded down $0.46 during trading on Wednesday, reaching $137.00. 4,687,726 shares of the stock were exchanged, compared to its average volume of 6,602,445. Snowflake Inc. has a 12 month low of $122.60 and a 12 month high of $237.72. The firm has a market cap of $45.87 billion, a PE ratio of -47.72 and a beta of 0.85. The stock has a 50-day moving average price of $144.04 and a 200-day moving average price of $170.30.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The firm had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. On average, sell-side analysts expect that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the sale, the director now directly owns 4,247 shares in the company, valued at $607,236.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the sale, the director now directly owns 4,247 shares in the company, valued at $607,236.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Grzegorz Czajkowski sold 469,120 shares of Snowflake stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the sale, the executive vice president now owns 494,942 shares of the company’s stock, valued at $60,922,410.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 534,960 shares of company stock worth $67,198,020. Corporate insiders own 7.80% of the company’s stock.

About Snowflake

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.