2,001 Shares in Snowflake Inc. (NYSE:SNOW) Purchased by Modus Advisors LLC

Modus Advisors LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 2,001 shares of the company’s stock, valued at approximately $323,000.

A number of other hedge funds have also made changes to their positions in SNOW. Vanguard Group Inc. increased its stake in shares of Snowflake by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after acquiring an additional 1,559,830 shares during the last quarter. FMR LLC boosted its holdings in Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after purchasing an additional 1,496,235 shares during the last quarter. Sands Capital Management LLC increased its holdings in shares of Snowflake by 12.6% during the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after buying an additional 610,970 shares during the last quarter. Norges Bank purchased a new stake in shares of Snowflake during the 4th quarter valued at approximately $838,455,000. Finally, Northern Trust Corp lifted its holdings in Snowflake by 5.4% in the third quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock valued at $287,556,000 after acquiring an additional 95,814 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 1,476 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $128.47, for a total transaction of $189,621.72. Following the transaction, the director now owns 230,527 shares in the company, valued at approximately $29,615,803.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Frank Slootman sold 1,476 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.47, for a total transaction of $189,621.72. Following the completion of the transaction, the director now owns 230,527 shares in the company, valued at approximately $29,615,803.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the sale, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The disclosure for this sale can be found here. Insiders have sold 39,862 shares of company stock valued at $5,895,712 in the last 90 days. 7.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SNOW shares. Robert W. Baird dropped their target price on shares of Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Redburn Atlantic reiterated a “sell” rating and issued a $125.00 price objective (down previously from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Bank of America restated a “neutral” rating and set a $200.00 target price on shares of Snowflake in a report on Wednesday, June 12th. BNP Paribas raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Thursday, May 2nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $240.00 target price on shares of Snowflake in a report on Wednesday, June 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.92.

Snowflake Price Performance

SNOW traded down $3.87 during midday trading on Tuesday, hitting $126.80. 3,922,187 shares of the company’s stock traded hands, compared to its average volume of 6,477,531. The company has a market cap of $42.45 billion, a PE ratio of -46.23 and a beta of 0.85. Snowflake Inc. has a one year low of $124.69 and a one year high of $237.72. The stock’s fifty day simple moving average is $150.03 and its 200-day simple moving average is $176.93.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. On average, research analysts expect that Snowflake Inc. will post -2.27 EPS for the current year.

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.