Outfitter Financial LLC Has $916,000 Stake in Snowflake Inc. (NYSE:SNOW)

by · The Cerbat Gem

Outfitter Financial LLC trimmed its position in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,265 shares of the company’s stock after selling 100 shares during the quarter. Outfitter Financial LLC’s holdings in Snowflake were worth $916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Quarry LP grew its stake in Snowflake by 9.8% in the 4th quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after buying an additional 59 shares during the last quarter. Gabelli Funds LLC increased its position in Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after buying an additional 65 shares during the period. Archford Capital Strategies LLC increased its position in Snowflake by 1.9% in the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock worth $527,000 after buying an additional 68 shares during the period. TD Private Client Wealth LLC increased its position in Snowflake by 8.9% in the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock worth $122,000 after buying an additional 68 shares during the period. Finally, Landscape Capital Management L.L.C. increased its position in Snowflake by 3.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 2,627 shares of the company’s stock worth $406,000 after buying an additional 77 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

NYSE:SNOW traded up $2.99 during trading hours on Friday, reaching $214.57. The stock had a trading volume of 555,283 shares, compared to its average volume of 5,948,826. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a 50 day simple moving average of $206.90 and a 200 day simple moving average of $178.46. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $226.60. The stock has a market cap of $71.64 billion, a P/E ratio of -50.79 and a beta of 1.22.

Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. On average, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, Director Mark Garrett sold 67,000 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $198.98, for a total transaction of $13,331,660.00. Following the transaction, the director owned 7,428 shares in the company, valued at approximately $1,478,023.44. This represents a 90.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Scarpelli sold 400,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer owned 292,610 shares in the company, valued at $60,090,389.60. This trade represents a 57.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,718,258 shares of company stock worth $589,762,906. Company insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the topic of a number of research reports. Robert W. Baird boosted their price objective on Snowflake from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Stifel Nicolaus upped their price target on Snowflake from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Mizuho boosted their price objective on Snowflake from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Snowflake in a research note on Thursday, June 5th. Finally, Daiwa Capital Markets started coverage on Snowflake in a research note on Tuesday, April 1st. They issued a “buy” rating and a $210.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.73.

Read Our Latest Analysis on Snowflake

About Snowflake

(Free Report)

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.

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