Snowflake Inc. $SNOW Holdings Lifted by State Street Corp

State Street Corp boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,887,073 shares of the company’s stock after purchasing an additional 94,293 shares during the quarter. State Street Corp’s holdings in Snowflake were worth $1,541,120,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNOW. Vanguard Group Inc. grew its stake in shares of Snowflake by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock worth $6,218,515,000 after purchasing an additional 595,553 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Snowflake in the second quarter worth approximately $3,900,134,000. Jennison Associates LLC increased its holdings in shares of Snowflake by 20.5% in the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock valued at $1,790,309,000 after buying an additional 1,363,389 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Snowflake by 15.2% in the second quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock valued at $1,108,045,000 after buying an additional 652,485 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Snowflake by 19.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after acquiring an additional 763,673 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SNOW shares. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $237.00 target price on shares of Snowflake in a research report on Thursday, December 4th. Wells Fargo & Company lifted their price target on Snowflake from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Citigroup cut their price objective on Snowflake from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Monday. Stifel Nicolaus raised their target price on shares of Snowflake from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Finally, Cowen restated a “buy” rating on shares of Snowflake in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $274.78.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 7,551 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total value of $1,670,583.24. Following the transaction, the director owned 153,226 shares in the company, valued at $33,899,720.24. The trade was a 4.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $223.88, for a total value of $2,238,800.00. Following the completion of the transaction, the executive vice president directly owned 532,450 shares in the company, valued at approximately $119,204,906. The trade was a 1.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 221,360 shares of company stock valued at $53,391,315. Insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $216.26 on Thursday. The business’s 50-day moving average is $250.99 and its 200-day moving average is $227.12. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.48. The company has a market capitalization of $73.27 billion, a price-to-earnings ratio of -53.53 and a beta of 1.09. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The firm’s revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. Equities research analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Snowflake 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.