Marietta Investment Partners LLC Purchases 6,278 Shares of Snowflake Inc. $SNOW

Marietta Investment Partners LLC raised its position in shares of Snowflake Inc. (NYSE:SNOW) by 67.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,539 shares of the company’s stock after buying an additional 6,278 shares during the period. Marietta Investment Partners LLC’s holdings in Snowflake were worth $2,344,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in shares of Snowflake during the fourth quarter valued at about $28,000. Greenline Wealth Management LLC bought a new stake in shares of Snowflake in the fourth quarter worth about $29,000. GoalVest Advisory LLC grew its stake in shares of Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. grew its stake in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after purchasing an additional 51 shares during the last quarter. Finally, MV Capital Management Inc. purchased a new position in Snowflake during the 4th quarter valued at about $32,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of SNOW stock opened at $259.67 on Monday. The stock has a market cap of $90.00 billion, a price-to-earnings ratio of -73.77 and a beta of 1.35. The business’s fifty day moving average is $202.78 and its 200 day moving average is $190.28. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $284.99. 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 (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 return on equity of 50.50% and a negative net margin of 23.79%.The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. Research analysts expect that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Garrett sold 100,000 shares of Snowflake 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 of the company’s stock, valued at $2,200,250. This trade represents a 91.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $141.60, for a total transaction of $7,127,860.80. Following the transaction, the director directly owned 28,556 shares of the company’s stock, valued at approximately $4,043,529.60. This trade represents a 63.80% 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. Insiders sold a total of 1,748,087 shares of company stock worth $407,831,514 in the last three months. 4.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on Snowflake from $216.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Royal Bank Of Canada boosted their target price on Snowflake from $220.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Piper Sandler upped their target price on Snowflake from $295.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Canaccord Genuity Group raised their price target on Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, TD Cowen reiterated a “buy” rating and issued a $300.00 price target on shares of Snowflake in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.53.

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.