Capital Investment Services of America Inc. Buys 1,371 Shares of Snowflake Inc. (NYSE:SNOW)

Capital Investment Services of America Inc. increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 100,999 shares of the company’s stock after acquiring an additional 1,371 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Snowflake were worth $14,762,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SNOW. Brighton Jones LLC boosted its stake in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after acquiring an additional 29,320 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in Snowflake by 8.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,441 shares of the company’s stock valued at $377,000 after acquiring an additional 195 shares during the last quarter. Empowered Funds LLC boosted its stake in Snowflake by 50.6% in the fourth quarter. Empowered Funds LLC now owns 9,054 shares of the company’s stock valued at $1,398,000 after acquiring an additional 3,041 shares during the last quarter. Stephens Inc. AR boosted its stake in Snowflake by 9.8% in the fourth quarter. Stephens Inc. AR now owns 2,945 shares of the company’s stock valued at $455,000 after acquiring an additional 262 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in Snowflake by 53.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 5,079 shares of the company’s stock valued at $784,000 after acquiring an additional 1,769 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Daiwa Capital Markets assumed coverage on shares of Snowflake in a research note on Tuesday, April 1st. They issued a “buy” rating and a $210.00 price objective on the stock. Oppenheimer raised their price objective on shares of Snowflake from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 6th. Loop Capital raised their price objective on shares of Snowflake from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Citigroup reaffirmed an “outperform” rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Mizuho raised their price objective on shares of Snowflake from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $223.50.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 7,016 shares of Snowflake stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total value of $1,092,321.04. Following the sale, the director now directly owns 182,999 shares in the company, valued at approximately $28,491,114.31. The trade was a 3.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 3,765 shares of Snowflake stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total transaction of $586,172.85. Following the completion of the sale, the executive vice president now owns 616,602 shares in the company, valued at $95,998,765.38. The trade was a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 903,058 shares of company stock worth $170,730,711. Insiders own 6.80% of the company’s stock.

Snowflake Stock Down 1.5%

Shares of SNOW stock opened at $208.14 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $214.83. The firm’s fifty day moving average price is $176.54 and its two-hundred day moving average price is $170.78. The firm has a market capitalization of $69.49 billion, a P/E ratio of -61.40 and a beta of 1.21.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $0.14 EPS. The company’s revenue was up 25.8% compared to the same quarter last year. On average, equities analysts predict that Snowflake Inc. will post -2.36 EPS 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.