Capital Investment Services of America Inc. Invests $11.67 Million in Snowflake Inc. (NYSE:SNOW)

Capital Investment Services of America Inc. purchased a new position in Snowflake Inc. (NYSE:SNOW) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 66,321 shares of the company’s stock, valued at approximately $11,671,000.

A number of other hedge funds also recently modified their holdings of SNOW. BerganKDV Wealth Management LLC raised its holdings in shares of Snowflake by 153.7% in the 1st quarter. BerganKDV Wealth Management LLC now owns 170 shares of the company’s stock worth $26,000 after purchasing an additional 103 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in shares of Snowflake by 333.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the period. M&R Capital Management Inc. raised its holdings in shares of Snowflake by 100.0% in the 1st quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $31,000 after purchasing an additional 100 shares during the period. Manchester Capital Management LLC raised its holdings in shares of Snowflake by 1,264.7% in the 1st quarter. Manchester Capital Management LLC now owns 232 shares of the company’s stock worth $36,000 after purchasing an additional 215 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Snowflake by 822.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock worth $38,000 after purchasing an additional 148 shares during the period. Institutional investors own 63.74% of the company’s stock.

Insider Buying and Selling

In related news, SVP Christian Kleinerman sold 1,500 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $166.00, for a total value of $249,000.00. Following the completion of the transaction, the senior vice president now directly owns 661,789 shares of the company’s stock, valued at $109,856,974. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Snowflake news, SVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $166.00, for a total transaction of $249,000.00. Following the completion of the transaction, the senior vice president now owns 661,789 shares of the company’s stock, valued at $109,856,974. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank Slootman sold 8,334 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $165.35, for a total transaction of $1,378,026.90. Following the transaction, the chief executive officer now directly owns 182,913 shares of the company’s stock, valued at approximately $30,244,664.55. The disclosure for this sale can be found here. Insiders sold a total of 644,425 shares of company stock valued at $113,839,347 over the last three months. Corporate insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SNOW shares. Raymond James lowered their target price on shares of Snowflake from $180.00 to $170.00 and set an “outperform” rating on the stock in a report on Thursday, August 24th. Piper Sandler lowered their target price on shares of Snowflake from $210.00 to $205.00 and set an “overweight” rating on the stock in a report on Thursday, August 24th. William Blair started coverage on shares of Snowflake in a report on Wednesday, June 28th. They set an “outperform” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $216.00 target price on shares of Snowflake in a report on Tuesday, September 5th. Finally, UBS Group lowered their target price on shares of Snowflake from $170.00 to $155.00 in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $190.85.

Snowflake Stock Down 0.3 %

Shares of NYSE:SNOW traded down $0.57 during midday trading on Friday, hitting $162.41. 6,661,747 shares of the stock traded hands, compared to its average volume of 5,063,108. The stock has a market capitalization of $53.55 billion, a PE ratio of -61.06 and a beta of 0.78. The business’s 50 day moving average is $163.92 and its two-hundred day moving average is $159.69. Snowflake Inc. has a one year low of $119.27 and a one year high of $193.94.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 23rd. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.10 by $0.12. The firm had revenue of $674.00 million during the quarter, compared to the consensus estimate of $662.22 million. Snowflake had a negative net margin of 35.22% and a negative return on equity of 14.07%. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.67) earnings per share. As a group, sell-side analysts forecast that Snowflake Inc. will post -1.62 earnings per share for the current 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.