Snowflake Inc. (NYSE:SNOW) Shares Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL grew its holdings in Snowflake Inc. (NYSE:SNOW) by 132.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 5,810 shares of the company’s stock after buying an additional 3,310 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Snowflake were worth $939,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SNOW. Accent Capital Management LLC acquired a new position in Snowflake during the fourth quarter worth $25,000. Riverview Trust Co acquired a new position in Snowflake during the first quarter worth $31,000. Hartford Financial Management Inc. acquired a new position in Snowflake during the first quarter worth $32,000. Future Financial Wealth Managment LLC purchased a new position in Snowflake during the first quarter worth $32,000. Finally, FinTrust Capital Advisors LLC increased its position in Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Trading Down 0.5 %

Shares of SNOW traded down $0.59 during midday trading on Friday, reaching $129.00. 3,377,909 shares of the company were exchanged, compared to its average volume of 5,308,795. The stock has a 50-day moving average price of $136.95 and a 200-day moving average price of $164.86. The company has a market cap of $43.19 billion, a price-to-earnings ratio of -46.07 and a beta of 0.85. Snowflake Inc. has a 1-year low of $122.60 and a 1-year high of $237.72.

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

Insiders Place Their Bets

In other Snowflake news, CAO Emily Ho sold 6,500 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the transaction, the chief accounting officer now owns 36,076 shares in the company, valued at $5,712,995.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $2,144,700.00. Following the transaction, the executive vice president now owns 733,773 shares in the company, valued at $104,914,863.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Emily Ho sold 6,500 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the transaction, the chief accounting officer now owns 36,076 shares in the company, valued at approximately $5,712,995.36. The disclosure for this sale can be found here. Insiders have sold a total of 533,460 shares of company stock worth $66,963,450 over the last quarter. 7.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SNOW shares. Scotiabank dropped their price target on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 23rd. JMP Securities reissued a “market outperform” rating and set a $235.00 price target on shares of Snowflake in a research report on Tuesday, June 4th. Macquarie dropped their price target on Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Robert W. Baird dropped their price target on Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Finally, UBS Group raised their price target on Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Three equities research 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.31.

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.