Breakwater Capital Group Acquires 374 Shares of Snowflake Inc. (NYSE:SNOW)

Breakwater Capital Group boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 21.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,154 shares of the company’s stock after purchasing an additional 374 shares during the quarter. Breakwater Capital Group’s holdings in Snowflake were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SNOW. Vanguard Group Inc. increased its holdings in Snowflake by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after buying an additional 1,559,830 shares during the period. Sands Capital Management LLC boosted its stake in shares of Snowflake by 12.6% in the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after purchasing an additional 610,970 shares in the last quarter. Norges Bank acquired a new stake in shares of Snowflake in the 4th quarter valued at $838,455,000. 1832 Asset Management L.P. boosted its stake in shares of Snowflake by 51.8% in the 4th quarter. 1832 Asset Management L.P. now owns 1,680,700 shares of the company’s stock valued at $334,459,000 after purchasing an additional 573,400 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Snowflake by 69.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock valued at $231,481,000 after purchasing an additional 623,277 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SNOW shares. Wells Fargo & Company reduced their target price on shares of Snowflake from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Barclays upped their price target on shares of Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 23rd. Sanford C. Bernstein upped their price target on shares of Snowflake from $171.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Macquarie reduced their price target on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Finally, Royal Bank of Canada dropped their price objective on Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company 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-four have issued a buy rating to the company. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $198.85.

Insiders Place Their Bets

In other Snowflake news, EVP Grzegorz Czajkowski sold 469,120 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total value of $57,743,980.80. Following the completion of the transaction, the executive vice president now owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the transaction, the insider now directly owns 63,222 shares in the company, valued at approximately $8,112,014.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total value of $57,743,980.80. Following the completion of the transaction, 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. In the last 90 days, insiders sold 519,112 shares of company stock valued at $64,932,073. 7.80% of the stock is owned by insiders.

Snowflake Trading Up 0.9 %

NYSE:SNOW opened at $135.09 on Monday. The firm’s fifty day simple moving average is $145.74 and its 200 day simple moving average is $173.07. Snowflake Inc. has a twelve month low of $122.60 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last posted 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). The company had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. On average, analysts expect that Snowflake Inc. will post -2.28 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.