71 West Capital Partners Makes New $1.14 Million Investment in Snowflake Inc. $SNOW

71 West Capital Partners bought a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, Holdings Channel.com reports. The fund bought 5,205 shares of the company’s stock, valued at approximately $1,142,000.

Other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. grew its position in Snowflake by 99.1% in the fourth quarter. Assetmark Inc. now owns 198,655 shares of the company’s stock worth $43,577,000 after acquiring an additional 98,870 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after buying an additional 2,519,413 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Snowflake in the third quarter worth $116,882,000. Swedbank AB lifted its stake in shares of Snowflake by 6.0% in the fourth quarter. Swedbank AB now owns 1,330,415 shares of the company’s stock worth $291,840,000 after buying an additional 75,419 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Snowflake by 3.1% in the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock worth $6,461,465,000 after buying an additional 857,832 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Up 3.4%

Shares of Snowflake stock opened at $240.61 on Tuesday. The firm has a market capitalization of $83.40 billion, a PE ratio of -68.35 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The company’s fifty day moving average price is $175.41 and its two-hundred day moving average price is $189.78. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99.

Snowflake (NYSE:SNOW) last announced its quarterly 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. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. On average, analysts expect that Snowflake Inc. will post -1.87 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $250.00, for a total value of $25,000,000.00. Following the sale, the director owned 8,801 shares of the company’s stock, valued at $2,200,250. The trade was a 91.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $245.21, for a total transaction of $98,819.63. Following the completion of the sale, the director directly owned 22,106 shares in the company, valued at $5,420,612.26. This trade represents a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,578,690 shares of company stock worth $357,534,217. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNOW. Mizuho boosted their price objective on shares of Snowflake from $220.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Morgan Stanley boosted their price objective on shares of Snowflake from $245.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Canaccord Genuity Group boosted their price objective on shares of Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Raymond James Financial restated an “outperform” rating and issued a $275.00 price objective on shares of Snowflake in a research note on Thursday, May 28th. Finally, Piper Sandler upped their target price on shares of Snowflake from $295.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $291.77.

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.