B & T Capital Management DBA Alpha Capital Management Has $5.82 Million Position in Snowflake Inc. (NYSE:SNOW)

B & T Capital Management DBA Alpha Capital Management increased its position in Snowflake Inc. (NYSE:SNOW) by 6.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,812 shares of the company’s stock after buying an additional 2,557 shares during the period. B & T Capital Management DBA Alpha Capital Management’s holdings in Snowflake were worth $5,819,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SNOW. Norges Bank acquired a new position in Snowflake in the fourth quarter worth approximately $988,950,000. GQG Partners LLC acquired a new position in Snowflake in the fourth quarter worth approximately $750,572,000. FMR LLC increased its holdings in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after buying an additional 2,805,425 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after buying an additional 2,200,406 shares during the last quarter. Finally, Groupama Asset Managment increased its holdings in Snowflake by 930,132.6% in the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after buying an additional 1,999,785 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $230.00 price objective on shares of Snowflake in a report on Thursday, June 5th. Hsbc Global Res downgraded Snowflake from a “hold” rating to a “strong sell” rating in a report on Thursday, May 22nd. Truist Financial increased their price target on Snowflake from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Barclays reiterated an “overweight” rating and set a $219.00 price target (up previously from $203.00) on shares of Snowflake in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald increased their price target on Snowflake from $183.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $225.36.

Insider Activity at Snowflake

In related news, CFO Michael Scarpelli sold 400,000 shares of Snowflake stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the sale, the chief financial officer directly owned 292,610 shares in the company, valued at $60,090,389.60. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Garrett sold 67,000 shares of Snowflake stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $198.98, for a total value of $13,331,660.00. Following the completion of the sale, the director owned 7,428 shares of the company’s stock, valued at approximately $1,478,023.44. The trade was a 90.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,718,258 shares of company stock valued at $589,762,906 over the last ninety days. 6.80% of the stock is owned by insiders.

Snowflake Stock Down 1.8%

Shares of NYSE SNOW opened at $210.64 on Friday. The stock has a market cap of $70.32 billion, a PE ratio of -50.03 and a beta of 1.22. The business has a fifty day moving average of $203.53 and a two-hundred day moving average of $177.02. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $226.60. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business earned $0.14 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. As a group, equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal 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.