Breakwater Capital Group Acquires 374 Shares of Snowflake Inc. (NYSE:SNOW)

Breakwater Capital Group increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 21.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,154 shares of the company’s stock after acquiring an additional 374 shares during the period. Breakwater Capital Group’s holdings in Snowflake were worth $348,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Snowflake in the 4th quarter valued at approximately $838,455,000. Vanguard Group Inc. raised its position in Snowflake by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after buying an additional 1,559,830 shares during the last quarter. Trivest Advisors Ltd purchased a new stake in shares of Snowflake during the 4th quarter valued at about $173,747,000. Cibc World Markets Corp bought a new stake in shares of Snowflake in the fourth quarter worth approximately $147,120,000. Finally, Wellington Management Group LLP grew its stake in shares of Snowflake by 69.9% in the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after acquiring an additional 623,277 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 546 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total transaction of $70,608.72. Following the sale, the executive vice president now owns 756,489 shares of the company’s stock, valued at approximately $97,829,157.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Christian Kleinerman sold 546 shares of Snowflake stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total value of $70,608.72. Following the sale, the executive vice president now owns 756,489 shares of the company’s stock, valued at approximately $97,829,157.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the completion of the sale, the chief accounting officer now directly owns 30,613 shares in the company, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. Insiders have sold 519,112 shares of company stock valued at $64,932,073 in the last 90 days. 7.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

SNOW opened at $135.09 on Monday. Snowflake Inc. has a 12-month low of $122.60 and a 12-month high of $237.72. The firm has a 50 day moving average of $145.74 and a two-hundred day moving average of $173.07.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The business had revenue of $828.71 million for the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. As a group, sell-side analysts predict that Snowflake Inc. will post -2.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $235.00 target price on shares of Snowflake in a report on Tuesday, June 4th. KeyCorp lifted their price objective on Snowflake from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Stifel Nicolaus cut their price objective on Snowflake from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Monness Crespi & Hardt raised Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Finally, UBS Group lifted their price objective on Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $198.85.

Snowflake 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.