Bokf Na Has $1.28 Million Position in Snowflake Inc. (NYSE:SNOW)

Bokf Na boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 1,424.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,960 shares of the company’s stock after buying an additional 7,438 shares during the period. Bokf Na’s holdings in Snowflake were worth $1,278,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SNOW. Norges Bank acquired a new stake in Snowflake during the fourth quarter worth $838,455,000. Vanguard Group Inc. boosted its stake in shares of Snowflake by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after purchasing an additional 1,559,830 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Snowflake in the 1st quarter valued at $171,608,000. Trivest Advisors Ltd acquired a new stake in shares of Snowflake in the 4th quarter valued at $173,747,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Snowflake in the 4th quarter valued at $147,120,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

SNOW stock traded up $0.43 during mid-day trading on Monday, hitting $129.43. 362,837 shares of the company were exchanged, compared to its average volume of 6,423,525. The firm’s 50 day simple moving average is $136.95 and its 200 day simple moving average is $164.63. Snowflake Inc. has a 1-year low of $122.60 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The business had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. On average, analysts expect that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the transaction, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at $124,504,006.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the transaction, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at $124,504,006.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the transaction, the insider now directly owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 533,460 shares of company stock valued at $66,963,450. 7.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Robert W. Baird reduced their target price on shares of Snowflake from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Piper Sandler reduced their price target on shares of Snowflake from $240.00 to $165.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Wedbush reiterated a “neutral” rating and set a $210.00 price target on shares of Snowflake in a research report on Wednesday, June 5th. Finally, Macquarie reduced their price target on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $197.31.

About Snowflake

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.