Clear Street Group Inc. Buys 86,051 Shares of Snowflake Inc. $SNOW

Clear Street Group Inc. raised its position in shares of Snowflake Inc. (NYSE:SNOW) by 136.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 149,037 shares of the company’s stock after buying an additional 86,051 shares during the quarter. Clear Street Group Inc.’s holdings in Snowflake were worth $32,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dockside LLC purchased a new position in Snowflake during the fourth quarter valued at $1,158,000. Blue Jean Financial LLC purchased a new position in Snowflake during the fourth quarter valued at $1,666,000. AFT Forsyth & Company Inc. purchased a new position in Snowflake during the fourth quarter valued at $247,000. Aptus Capital Advisors LLC lifted its position in Snowflake by 2.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 4,405 shares of the company’s stock valued at $966,000 after buying an additional 122 shares during the period. Finally, Altrafin AG purchased a new position in Snowflake during the fourth quarter valued at $360,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $148.21, for a total value of $7,460,594.98. Following the completion of the transaction, the director owned 29,396 shares of the company’s stock, valued at approximately $4,356,781.16. The trade was a 63.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 437,076 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $252.43, for a total value of $110,331,094.68. Following the completion of the transaction, the director directly owned 38,046 shares of the company’s stock, valued at approximately $9,603,951.78. This trade represents a 91.99% decrease in their position. 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 90 days, insiders sold 1,589,550 shares of company stock valued at $359,438,410. 4.80% of the stock is owned by insiders.

Snowflake Price Performance

SNOW opened at $232.38 on Friday. The stock has a 50-day moving average price of $173.64 and a 200-day moving average price of $190.21. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $80.54 billion, a PE ratio of -66.02 and a beta of 1.35. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SNOW shares. JPMorgan Chase & Co. raised their price objective on Snowflake from $245.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Bank of America raised their price objective on Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings lowered Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. Loop Capital raised their price objective on Snowflake from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Finally, Citigroup raised their price objective on Snowflake from $260.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $291.77.

Snowflake Profile

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.