Snowflake Inc. (NYSE:SNOW) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,131,364 shares of the company’s stock after acquiring an additional 61,026 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Snowflake were worth $225,141,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SNOW. FMR LLC boosted its stake in Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after purchasing an additional 1,496,235 shares in the last quarter. Winslow Capital Management LLC bought a new stake in shares of Snowflake during the 3rd quarter worth $226,302,000. Vanguard Group Inc. raised its position in shares of Snowflake by 4.0% during the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after purchasing an additional 743,211 shares during the period. Wellington Management Group LLP raised its position in shares of Snowflake by 69.9% during the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after purchasing an additional 623,277 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Snowflake by 19,321.5% during the fourth quarter. International Assets Investment Management LLC now owns 508,843 shares of the company’s stock valued at $101,260,000 after purchasing an additional 506,223 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the transaction, the executive now directly owns 354,954 shares in the company, valued at $55,571,598.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total value of $2,001,149.92. Following the sale, the executive now owns 354,954 shares of the company’s stock, valued at approximately $55,571,598.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the transaction, the executive vice president now owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,380 shares of company stock worth $12,206,900. Company insiders own 8.30% of the company’s stock.

Snowflake Stock Down 0.9 %

Shares of NYSE SNOW opened at $157.72 on Thursday. Snowflake Inc. has a 12 month low of $138.40 and a 12 month high of $237.72. The company has a market cap of $52.71 billion, a P/E ratio of -61.85 and a beta of 0.90. The business’s 50 day moving average is $160.35 and its two-hundred day moving average is $179.27.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. Sell-side analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Guggenheim upgraded Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Macquarie raised shares of Snowflake from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $182.00 to $205.00 in a research note on Thursday, February 29th. Mizuho reissued a “buy” rating and set a $205.00 target price (down from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Barclays decreased their target price on Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. Finally, Oppenheimer lowered their price target on Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $202.77.

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.