Yousif Capital Management LLC Grows Stake in Snowflake Inc. (NYSE:SNOW)

Yousif Capital Management LLC boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,110 shares of the company’s stock after purchasing an additional 138 shares during the period. Yousif Capital Management LLC’s holdings in Snowflake were worth $619,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SNOW. Rakuten Securities Inc. bought a new stake in Snowflake during the fourth quarter valued at $790,000. Sequoia Financial Advisors LLC raised its holdings in Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after buying an additional 3,152 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Snowflake during the third quarter valued at approximately $458,000. Glynn Capital Management LLC lifted its holdings in shares of Snowflake by 3.1% in the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock valued at $28,786,000 after purchasing an additional 5,629 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in Snowflake by 55.9% in the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock worth $58,802,000 after acquiring an additional 105,937 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the topic of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Snowflake in a research report on Tuesday, February 27th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. UBS Group lifted their price objective on Snowflake from $185.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Rosenblatt Securities upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Friday, April 5th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $175.00 target price (down from $230.00) on shares of Snowflake in a report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $202.77.

Snowflake Stock Performance

Shares of SNOW stock opened at $159.32 on Monday. The company has a market capitalization of $53.24 billion, a P/E ratio of -62.48 and a beta of 0.90. Snowflake Inc. has a 52 week low of $138.40 and a 52 week high of $237.72. The company’s 50 day moving average price is $163.20 and its two-hundred day moving average price is $179.12.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Analysts forecast that Snowflake Inc. will post -1.9 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the transaction, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Snowflake news, CEO Frank Slootman sold 86,078 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the sale, the chief executive officer now owns 180,143 shares of the company’s stock, valued at approximately $40,555,593.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benoit Dageville sold 689 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the transaction, the insider now owns 70,665 shares in the company, valued at $11,406,744.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,458 shares of company stock worth $31,585,640. Insiders own 8.30% of the company’s stock.

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, as well as applies artificial intelligence (AI) for solving business problems.