Keybank National Association OH Grows Position in Snowflake Inc. $SNOW

Keybank National Association OH raised its holdings in Snowflake Inc. (NYSE:SNOW) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,072 shares of the company’s stock after purchasing an additional 2,741 shares during the period. Keybank National Association OH’s holdings in Snowflake were worth $4,385,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SNOW. Kemnay Advisory Services Inc. purchased a new position in Snowflake in the 4th quarter valued at approximately $28,000. Greenline Wealth Management LLC bought a new stake in Snowflake during the 4th quarter valued at $29,000. GoalVest Advisory LLC lifted its position in shares of Snowflake by 221.4% during the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after acquiring an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in shares of Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after acquiring an additional 51 shares in the last quarter. Finally, MV Capital Management Inc. bought a new position in shares of Snowflake in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 0.2%

Shares of NYSE SNOW opened at $259.67 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average of $202.78 and a 200-day moving average of $190.46. The firm has a market capitalization of $90.00 billion, a price-to-earnings ratio of -73.77 and a beta of 1.35. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business posted $0.24 earnings per share. Snowflake’s revenue for the quarter was up 33.5% on a year-over-year basis. Sell-side analysts expect that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 437,076 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $252.43, for a total value of $110,331,094.68. Following the completion of the sale, the director owned 38,046 shares of the company’s stock, valued at $9,603,951.78. This represents a 91.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the transaction, the director owned 29,396 shares in the company, valued at $4,356,781.16. The trade was a 63.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,798,828 shares of company stock worth $415,351,838. 4.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SNOW shares. Sanford C. Bernstein lifted their price target on Snowflake from $195.00 to $250.00 and gave the company a “market perform” rating in a research report on Thursday, May 28th. DA Davidson increased their price objective on Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Needham & Company LLC raised their target price on Snowflake from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. KeyCorp set a $295.00 target price on Snowflake in a report on Thursday, May 28th. Finally, Weiss Ratings cut Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $293.53.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.