7,594 Shares in Snowflake Inc. $SNOW Acquired by Blue Jean Financial LLC

Blue Jean Financial LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,594 shares of the company’s stock, valued at approximately $1,666,000. Snowflake comprises approximately 1.4% of Blue Jean Financial LLC’s investment portfolio, making the stock its 28th largest position.

Several other institutional investors have also recently bought and sold shares of the stock. Total Clarity Wealth Management Inc. raised its position in Snowflake by 2.7% in the 3rd quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company’s stock worth $340,000 after purchasing an additional 40 shares during the last quarter. Diligent Investors LLC grew its holdings in Snowflake by 0.9% during the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock worth $1,036,000 after acquiring an additional 40 shares during the period. Wolff Wiese Magana LLC grew its holdings in Snowflake by 10.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 549 shares of the company’s stock worth $120,000 after acquiring an additional 50 shares during the period. HHM Wealth Advisors LLC grew its holdings in Snowflake by 50.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 50 shares during the period. Finally, United Asset Strategies Inc. grew its holdings in Snowflake by 1.4% during the 4th quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock worth $777,000 after acquiring an additional 50 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $232.38 on Friday. The company has a market capitalization of $80.54 billion, a PE ratio of -66.02 and a beta of 1.35. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. 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 stock’s fifty day simple moving average is $173.64 and its 200 day simple moving average is $190.21.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm’s revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. On average, research analysts predict that Snowflake Inc. will post -1.87 EPS for the current year.

Insider Buying and Selling

In related news, Director Frank Slootman sold 437,076 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the completion of the transaction, the director directly owned 38,046 shares of the company’s stock, valued at approximately $9,603,951.78. This represents a 91.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the transaction, the director directly owned 8,801 shares of the company’s stock, valued at approximately $2,200,250. The trade was a 91.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,589,550 shares of company stock valued at $359,438,410. Company insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Scotiabank lifted their target price on shares of Snowflake from $285.00 to $320.00 and gave the stock a “sector outperform” rating in a report on Monday, June 8th. Monness Crespi & Hardt lifted their target price on shares of Snowflake from $282.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Evercore set a $200.00 target price on shares of Snowflake in a report on Tuesday, April 14th. Benchmark lifted their target price on shares of Snowflake from $200.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $275.00 target price on shares of Snowflake in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $291.77.

Snowflake Company Profile

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.