Prescott Group Capital Management L.L.C. Buys Shares of 5,000 Snowflake Inc. (NYSE:SNOW)

Prescott Group Capital Management L.L.C. bought a new stake in shares of Snowflake Inc. (NYSE:SNOW – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,000 shares of the company’s stock, valued at approximately $718,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SNOW. BlackRock Inc. grew its stake in shares of Snowflake by 25.7% in the 3rd quarter. BlackRock Inc. now owns 12,567,822 shares of the company’s stock valued at $2,136,029,000 after buying an additional 2,569,953 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Snowflake by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 17,293,889 shares of the company’s stock valued at $2,939,269,000 after buying an additional 1,327,410 shares in the last quarter. State Street Corp grew its stake in shares of Snowflake by 30.6% in the 3rd quarter. State Street Corp now owns 5,657,938 shares of the company’s stock valued at $961,623,000 after buying an additional 1,324,033 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Snowflake in the 1st quarter valued at approximately $176,499,000. Finally, Bank of Montreal Can grew its stake in shares of Snowflake by 11,112.4% in the 4th quarter. Bank of Montreal Can now owns 761,993 shares of the company’s stock valued at $109,376,000 after buying an additional 755,197 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW traded up $2.77 during mid-day trading on Friday, hitting $150.68. The company had a trading volume of 5,840,747 shares, compared to its average volume of 5,674,107. Snowflake Inc. has a fifty-two week low of $110.26 and a fifty-two week high of $205.66. The business’s fifty day moving average is $151.30 and its two-hundred day moving average is $147.97. The firm has a market cap of $48.97 billion, a P/E ratio of -55.40 and a beta of 0.74.

Snowflake (NYSE:SNOW – Get Rating) last released its earnings results on Wednesday, March 1st. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.12). Snowflake had a negative net margin of 37.78% and a negative return on equity of 14.72%. The company had revenue of $589.01 million during the quarter, compared to analyst estimates of $571.57 million. Equities analysts forecast that Snowflake Inc. will post -1.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on SNOW shares. StockNews.com started coverage on Snowflake in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Piper Sandler restated a “buy” rating and issued a $194.00 target price on shares of Snowflake in a research note on Thursday, March 2nd. Raymond James cut their target price on Snowflake from $180.00 to $170.00 and set an “outperform” rating for the company in a research note on Thursday, March 2nd. JMP Securities cut their target price on Snowflake from $215.00 to $200.00 in a research note on Thursday. Finally, Rosenblatt Securities cut Snowflake from a “buy” rating to a “neutral” rating and lowered their price target for the company from $188.00 to $170.00 in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $183.17.

Insider Transactions at Snowflake

In other news, Director John Dennis Mcmahon sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $142.65, for a total transaction of $142,650.00. Following the sale, the director now owns 154,902 shares of the company’s stock, valued at $22,096,770.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director John Dennis Mcmahon sold 1,000 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $142.65, for a total transaction of $142,650.00. Following the completion of the transaction, the director now directly owns 154,902 shares in the company, valued at $22,096,770.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benoit Dageville sold 13,182 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $180.00, for a total value of $2,372,760.00. Following the transaction, the insider now owns 43,063 shares of the company’s stock, valued at $7,751,340. The disclosure for this sale can be found here. Insiders have sold a total of 309,301 shares of company stock valued at $44,133,577 over the last 90 days. 8.90% of the stock is owned by company insiders.

Snowflake Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.