Mane Global Capital Management LP Acquires New Holdings in Snowflake Inc. $SNOW

Mane Global Capital Management LP bought a new position in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 68,837 shares of the company’s stock, valued at approximately $15,404,000.

A number of other large investors have also recently added to or reduced their stakes in SNOW. Trust Co. of Toledo NA OH bought a new position in shares of Snowflake in the second quarter valued at approximately $25,000. Avion Wealth boosted its holdings in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares during the period. Rossby Financial LCC grew its stake in Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 127 shares during the last quarter. Whittier Trust Co. raised its holdings in Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings in Snowflake by 417.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock worth $34,000 after acquiring an additional 121 shares during the period. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of recent analyst reports. JMP Securities upped their price target on shares of Snowflake from $283.00 to $325.00 and gave the company a “market outperform” rating in a report on Tuesday, October 28th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Wednesday, November 26th. Cantor Fitzgerald increased their target price on Snowflake from $275.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft raised their target price on Snowflake from $250.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Finally, DA Davidson reiterated a “buy” rating and set a $300.00 price target on shares of Snowflake in a report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $274.78.

Insider Activity

In related news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $223.88, for a total transaction of $2,238,800.00. Following the transaction, the executive vice president owned 532,450 shares in the company, valued at $119,204,906. This represents a 1.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $257.30, for a total transaction of $12,951,967.40. Following the transaction, the director owned 33,596 shares in the company, valued at $8,644,250.80. The trade was a 59.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 221,360 shares of company stock worth $53,391,315. 6.80% of the stock is currently owned by insiders.

Snowflake Stock Performance

NYSE SNOW opened at $216.26 on Thursday. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67. The company has a quick ratio of 1.48, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. The company’s 50-day simple moving average is $250.99 and its 200 day simple moving average is $227.12. The stock has a market cap of $73.27 billion, a P/E ratio of -53.53 and a beta of 1.09.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.Snowflake’s revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. As a group, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.