Dockside LLC Invests $1.16 Million in Snowflake Inc. $SNOW

Dockside LLC bought a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, Holdings Channel.com reports. The firm bought 5,281 shares of the company’s stock, valued at approximately $1,158,000.

Several other hedge funds also recently made changes to their positions in the company. Blue Jean Financial LLC acquired a new stake in shares of Snowflake in the 4th quarter worth $1,666,000. AFT Forsyth & Company Inc. acquired a new stake in shares of Snowflake in the 4th quarter worth $247,000. Aptus Capital Advisors LLC lifted its stake in shares of Snowflake by 2.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 4,405 shares of the company’s stock worth $966,000 after acquiring an additional 122 shares during the period. Altrafin AG acquired a new stake in shares of Snowflake in the 4th quarter worth $360,000. Finally, Johnson Investment Counsel Inc. lifted its stake in shares of Snowflake by 4.5% in the 4th quarter. Johnson Investment Counsel Inc. now owns 1,383 shares of the company’s stock worth $303,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Snowflake from $245.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Benchmark raised their target price on shares of Snowflake from $200.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. KeyCorp set a $295.00 target price on shares of Snowflake in a research note on Thursday, May 28th. Stifel Nicolaus raised their target price on shares of Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Sanford C. Bernstein raised their target price on shares of Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $291.77.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the transaction, the director directly owned 8,801 shares in the company, valued at approximately $2,200,250. This trade represents a 91.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the transaction, the director owned 29,396 shares of the company’s stock, valued at $4,356,781.16. This trade represents a 63.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,589,550 shares of company stock worth $359,438,410. 4.80% of the stock is owned by corporate insiders.

Snowflake Stock Down 0.2%

Shares of NYSE SNOW opened at $232.38 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. The firm has a 50-day moving average price of $173.64 and a 200 day moving average price of $189.84. The stock has a market capitalization of $80.54 billion, a price-to-earnings ratio of -66.02 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. Equities research analysts anticipate that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.