Capital Investment Services of America Inc. Has $14.76 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Capital Investment Services of America Inc. lifted its stake in Snowflake Inc. (NYSE:SNOW) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,999 shares of the company’s stock after acquiring an additional 1,371 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Snowflake were worth $14,762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank bought a new stake in Snowflake in the fourth quarter worth $988,950,000. GQG Partners LLC bought a new stake in Snowflake in the fourth quarter worth $750,572,000. FMR LLC boosted its holdings in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after purchasing an additional 2,200,406 shares in the last quarter. Finally, Groupama Asset Managment boosted its holdings in Snowflake by 930,132.6% in the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after purchasing an additional 1,999,785 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at approximately $60,090,389.60. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now directly owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 903,058 shares of company stock valued at $170,730,711. Corporate insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $208.14 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $214.83. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $69.49 billion, a PE ratio of -61.40 and a beta of 1.21. The firm has a 50-day moving average price of $176.54 and a 200 day moving average price of $170.78.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. Research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNOW. UBS Group upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $210.00 to $265.00 in a report on Wednesday, June 4th. Robert W. Baird upped their price target on shares of Snowflake from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, May 22nd. HSBC cut shares of Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Citigroup restated an “outperform” rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Monness Crespi & Hardt upped their price target on shares of Snowflake from $230.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.50.

About Snowflake

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.