Comerica Bank Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Comerica Bank purchased a new position in shares of Snowflake Inc. (NYSE:SNOWGet Rating) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,821 shares of the company’s stock, valued at approximately $339,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Level Financial Advisors Inc. lifted its holdings in shares of Snowflake by 475.0% in the 1st quarter. Level Financial Advisors Inc. now owns 115 shares of the company’s stock worth $26,000 after purchasing an additional 95 shares in the last quarter. Glassman Wealth Services lifted its holdings in shares of Snowflake by 233.3% in the 4th quarter. Glassman Wealth Services now owns 80 shares of the company’s stock worth $27,000 after purchasing an additional 56 shares in the last quarter. KRS Capital Management LLC bought a new position in shares of Snowflake in the 4th quarter worth $33,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Snowflake in the 4th quarter worth $34,000. Finally, GW&K Investment Management LLC bought a new position in shares of Snowflake in the 4th quarter worth $34,000. 76.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SNOW shares. Robert W. Baird started coverage on Snowflake in a report on Tuesday, July 12th. They issued an “outperform” rating and a $200.00 target price on the stock. Piper Sandler lowered their price target on Snowflake from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. The Goldman Sachs Group lowered their price target on Snowflake from $335.00 to $289.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. Cowen lowered their price target on Snowflake from $390.00 to $280.00 and set an “outperform” rating for the company in a research report on Monday, May 23rd. Finally, Truist Financial lowered their price target on Snowflake from $300.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 26th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $219.27.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 727 shares of Snowflake stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $136.18, for a total transaction of $99,002.86. Following the completion of the sale, the insider now owns 16,620 shares in the company, valued at approximately $2,263,311.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Benoit Dageville sold 727 shares of Snowflake stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $136.18, for a total transaction of $99,002.86. Following the completion of the sale, the insider now owns 16,620 shares in the company, valued at approximately $2,263,311.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Frank Slootman sold 1,727 shares of Snowflake stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $136.18, for a total value of $235,182.86. Following the sale, the chief executive officer now owns 138,551 shares of the company’s stock, valued at approximately $18,867,875.18. The disclosure for this sale can be found here. Insiders sold a total of 3,678 shares of company stock worth $524,444 in the last quarter. 8.90% of the stock is owned by company insiders.

Snowflake Stock Up 4.6 %

Shares of NYSE SNOW opened at $149.91 on Monday. Snowflake Inc. has a 52 week low of $110.26 and a 52 week high of $405.00. The business has a 50-day simple moving average of $137.97 and a two-hundred day simple moving average of $193.35. The company has a market cap of $47.16 billion, a P/E ratio of -71.05 and a beta of 1.33.

Snowflake (NYSE:SNOWGet Rating) last issued its earnings results on Wednesday, May 25th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.13). Snowflake had a negative return on equity of 12.39% and a negative net margin of 45.48%. The company had revenue of $422.37 million during the quarter, compared to the consensus estimate of $413.01 million. During the same quarter in the prior year, the business earned ($0.69) EPS. The firm’s revenue for the quarter was up 84.5% compared to the same quarter last year. Equities research analysts anticipate that Snowflake Inc. will post -2.1 EPS for the current year.

Snowflake Company 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.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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