Amalgamated Bank Purchases 919 Shares of Snowflake Inc. (NYSE:SNOW)

Amalgamated Bank increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,262 shares of the company’s stock after acquiring an additional 919 shares during the quarter. Amalgamated Bank’s holdings in Snowflake were worth $3,254,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Quarry LP grew its holdings in shares of Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after acquiring an additional 59 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after purchasing an additional 65 shares during the period. Archford Capital Strategies LLC boosted its holdings in Snowflake by 1.9% in the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock worth $527,000 after buying an additional 68 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after buying an additional 69 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in Snowflake by 21.8% during the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after acquiring an additional 74 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In related news, CAO Emily Ho sold 1,544 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $220.98, for a total transaction of $341,193.12. Following the completion of the sale, the chief accounting officer owned 35,100 shares of the company’s stock, valued at approximately $7,756,398. This represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 294,125 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $217.29, for a total value of $63,910,421.25. Following the completion of the sale, the director directly owned 165,507 shares of the company’s stock, valued at approximately $35,963,016.03. This represents a 63.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,876,557 shares of company stock valued at $403,565,119. Corporate insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $221.13 on Friday. The company has a 50 day moving average price of $197.86 and a 200 day moving average price of $175.10. The firm has a market capitalization of $73.83 billion, a P/E ratio of -52.52 and a beta of 1.22. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $225.68. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW) last posted 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. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm earned $0.14 EPS. The company’s quarterly revenue was up 25.8% on a year-over-year basis. Sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SNOW shares. Royal Bank Of Canada lifted their price target on Snowflake from $236.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $205.00 target price on shares of Snowflake in a research report on Monday, May 19th. Hsbc Global Res downgraded shares of Snowflake from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. Robert W. Baird increased their target price on Snowflake from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, May 22nd. Finally, Daiwa America upgraded shares of Snowflake to a “strong-buy” rating in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.36.

Snowflake Company 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.