Snowflake Inc. $SNOW Shares Bought by Jennison Associates LLC

Jennison Associates LLC raised its position in Snowflake Inc. (NYSE:SNOW) by 27.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,603,302 shares of the company’s stock after buying an additional 2,519,413 shares during the period. Snowflake comprises about 1.5% of Jennison Associates LLC’s portfolio, making the stock its 16th largest holding. Jennison Associates LLC’s holdings in Snowflake were worth $2,545,300,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SNOW. Total Clarity Wealth Management Inc. grew its holdings in shares of Snowflake by 2.7% during the third quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company’s stock worth $340,000 after purchasing an additional 40 shares during the last quarter. Diligent Investors LLC grew its holdings in shares of Snowflake by 0.9% during the third quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock worth $1,036,000 after purchasing an additional 40 shares during the last quarter. Coastline Trust Co grew its holdings in shares of Snowflake by 1.0% during the third quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock worth $943,000 after purchasing an additional 42 shares during the last quarter. CX Institutional grew its holdings in shares of Snowflake by 13.2% during the third quarter. CX Institutional now owns 421 shares of the company’s stock worth $95,000 after purchasing an additional 49 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of Snowflake by 44.1% during the third quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock worth $36,000 after purchasing an additional 49 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In related news, SVP Vivek Raghunathan sold 3,876 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $152.80, for a total value of $592,252.80. Following the completion of the sale, the senior vice president owned 273,323 shares in the company, valued at $41,763,754.40. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 11,299 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $175.25, for a total transaction of $1,980,149.75. Following the completion of the sale, the director owned 38,046 shares of the company’s stock, valued at approximately $6,667,561.50. The trade was a 22.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 394,313 shares of company stock valued at $67,477,780 over the last 90 days. Insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $135.31 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18. The company has a market cap of $46.78 billion, a P/E ratio of -33.97 and a beta of 1.23. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $280.67. The company has a 50-day moving average price of $158.97 and a 200 day moving average price of $203.51.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The firm’s revenue was up 30.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. Research analysts predict that Snowflake Inc. will post -2.16 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on SNOW shares. DA Davidson dropped their price objective on Snowflake from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Stifel Nicolaus set a $205.00 price objective on Snowflake in a report on Thursday, February 26th. Citigroup dropped their price objective on Snowflake from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Barclays dropped their price objective on Snowflake from $204.00 to $192.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Finally, Sanford C. Bernstein decreased their target price on shares of Snowflake from $237.00 to $195.00 and set a “market perform” rating for the company in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $242.19.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.