Callan Family Office LLC Invests $637,000 in Snowflake Inc. (NYSE:SNOW)

Callan Family Office LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,358 shares of the company’s stock, valued at approximately $637,000.

A number of other institutional investors have also recently made changes to their positions in SNOW. Vanguard Group Inc. increased its stake in Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock valued at $3,974,705,000 after purchasing an additional 316,573 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock valued at $612,817,000 after buying an additional 2,200,406 shares during the last quarter. Nuveen LLC acquired a new position in shares of Snowflake in the 1st quarter valued at $555,847,000. Goldman Sachs Group Inc. increased its position in shares of Snowflake by 22.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock valued at $524,293,000 after acquiring an additional 650,775 shares during the period. Finally, Invesco Ltd. raised its stake in Snowflake by 26.5% in the 1st quarter. Invesco Ltd. now owns 3,088,288 shares of the company’s stock worth $451,384,000 after acquiring an additional 647,176 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Up 2.0%

NYSE SNOW opened at $196.91 on Thursday. Snowflake Inc. has a one year low of $107.13 and a one year high of $229.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The business has a fifty day moving average price of $213.04 and a 200 day moving average price of $184.30. The company has a market cap of $65.74 billion, a P/E ratio of -46.77 and a beta of 1.22.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. Research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Raymond James Financial reissued an “outperform” rating and issued a $212.00 price objective (up from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. UBS Group cut their price target on shares of Snowflake from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday. Hsbc Global Res lowered shares of Snowflake from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 22nd. Royal Bank Of Canada lifted their price objective on shares of Snowflake from $236.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Snowflake in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.32.

Insider Buying and Selling

In other news, CFO Michael Scarpelli sold 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the sale, the chief financial officer directly owned 292,610 shares in the company, valued at $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 424,852 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total value of $93,191,286.20. Following the completion of the sale, the director directly owned 165,507 shares of the company’s stock, valued at approximately $36,303,960.45. This represents a 71.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,014,642 shares of company stock worth $657,325,186 over the last three months. Corporate insiders own 6.80% of the company’s stock.

Snowflake 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.