New England Research & Management Inc. Has $523,000 Stock Holdings in Snowflake Inc. (NYSE:SNOW)

New England Research & Management Inc. decreased its position in Snowflake Inc. (NYSE:SNOW) by 3.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,875 shares of the company’s stock after selling 150 shares during the period. New England Research & Management Inc.’s holdings in Snowflake were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SNOW. Mather Group LLC. lifted its holdings in shares of Snowflake by 223.6% during the 2nd quarter. Mather Group LLC. now owns 906 shares of the company’s stock worth $122,000 after acquiring an additional 626 shares during the period. City State Bank lifted its stake in Snowflake by 29.4% during the second quarter. City State Bank now owns 4,399 shares of the company’s stock worth $594,000 after purchasing an additional 1,000 shares during the period. ST Germain D J Co. Inc. lifted its stake in Snowflake by 81.7% during the second quarter. ST Germain D J Co. Inc. now owns 4,939 shares of the company’s stock worth $667,000 after purchasing an additional 2,221 shares during the period. Versant Capital Management Inc grew its stake in shares of Snowflake by 2,323.1% in the 2nd quarter. Versant Capital Management Inc now owns 315 shares of the company’s stock valued at $43,000 after purchasing an additional 302 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Snowflake in the 2nd quarter valued at approximately $41,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling

In other news, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the transaction, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the sale, the insider now owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Emily Ho sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the transaction, the chief accounting officer now owns 36,076 shares of the company’s stock, valued at $5,712,995.36. The disclosure for this sale can be found here. Insiders have sold 520,678 shares of company stock valued at $64,962,300 in the last 90 days. 7.80% of the stock is owned by insiders.

Snowflake Trading Up 2.0 %

Shares of NYSE:SNOW traded up $2.21 during midday trading on Tuesday, hitting $114.84. The company had a trading volume of 5,333,511 shares, compared to its average volume of 6,458,003. Snowflake Inc. has a 12 month low of $107.93 and a 12 month high of $237.72. The firm has a fifty day simple moving average of $131.99 and a 200 day simple moving average of $161.30. The stock has a market cap of $38.45 billion, a price-to-earnings ratio of -41.01 and a beta of 0.85.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The company had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Equities analysts forecast that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group boosted their price target on Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, May 23rd. Loop Capital reduced their target price on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Barclays increased their target price on shares of Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 23rd. Mizuho cut their price target on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $197.31.

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.