BlackRock Inc. increased its stake in Snowflake Inc. (NYSE:SNOW – Free Report) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,088,422 shares of the company’s stock after purchasing an additional 674,196 shares during the quarter. BlackRock Inc. owned approximately 4.32% of Snowflake worth $2,479,280,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Oberndorf William E increased its holdings in Snowflake by 9.6% in the 2nd quarter. Oberndorf William E now owns 62,039 shares of the company’s stock worth $10,918,000 after acquiring an additional 5,456 shares in the last quarter. Visionary Wealth Advisors boosted its position in shares of Snowflake by 4.8% in the second quarter. Visionary Wealth Advisors now owns 1,540 shares of the company’s stock worth $271,000 after purchasing an additional 70 shares during the period. Stansberry Asset Management LLC purchased a new stake in shares of Snowflake in the second quarter worth $2,167,000. Bridgewater Associates LP bought a new stake in shares of Snowflake during the 2nd quarter valued at $1,621,000. Finally, Kestra Advisory Services LLC lifted its stake in shares of Snowflake by 3.8% during the 2nd quarter. Kestra Advisory Services LLC now owns 17,435 shares of the company’s stock valued at $3,068,000 after buying an additional 638 shares in the last quarter. 63.74% of the stock is owned by institutional investors.

Insider Activity at Snowflake

In other Snowflake news, SVP Grzegorz Czajkowski sold 694 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $166.27, for a total value of $115,391.38. Following the transaction, the senior vice president now directly owns 54,701 shares in the company, valued at approximately $9,095,135.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $166.00, for a total value of $249,000.00. Following the completion of the sale, the senior vice president now directly owns 661,789 shares in the company, valued at $109,856,974. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Grzegorz Czajkowski sold 694 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $166.27, for a total transaction of $115,391.38. Following the transaction, the senior vice president now owns 54,701 shares in the company, valued at $9,095,135.27. The disclosure for this sale can be found here. Insiders sold 204,938 shares of company stock worth $34,647,430 in the last 90 days. 8.30% of the stock is owned by corporate insiders.

Snowflake Stock Performance

Shares of SNOW stock opened at $187.53 on Friday. The stock has a 50 day moving average price of $156.62 and a 200 day moving average price of $163.93. Snowflake Inc. has a 52-week low of $119.27 and a 52-week high of $193.94. The firm has a market capitalization of $61.83 billion, a P/E ratio of -69.97 and a beta of 0.77.

Snowflake (NYSE:SNOW – Get Free Report) last released its earnings results on Wednesday, November 29th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.09. The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $713.75 million. Snowflake had a negative return on equity of 14.18% and a negative net margin of 33.35%. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the company earned ($0.60) earnings per share. As a group, sell-side analysts forecast that Snowflake Inc. will post -1.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Rosenblatt Securities raised their price target on Snowflake from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Friday. Guggenheim reaffirmed a “sell” rating and set a $105.00 price objective on shares of Snowflake in a report on Monday, August 14th. Truist Financial lifted their price objective on shares of Snowflake from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Scotiabank raised their price objective on Snowflake from $194.00 to $226.00 and gave the company a “sector outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $196.50.

View Our Latest Report on SNOW

Snowflake Company Profile (Free Report)

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.

Further Reading

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Original: MarketBeat News Feed: BlackRock Inc. Raises Position in Snowflake Inc. (NYSE:SNOW)