Landscape Capital Management L.L.C. Invests $2.29 Million in Snowflake Inc. $SNOW

Landscape Capital Management L.L.C. purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 10,437 shares of the company’s stock, valued at approximately $2,289,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SNOW. Vanguard Group Inc. lifted its holdings in Snowflake by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock worth $6,601,790,000 after purchasing an additional 1,448,094 shares during the period. Jennison Associates LLC lifted its holdings in Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after purchasing an additional 2,519,413 shares during the period. Nuveen LLC lifted its holdings in Snowflake by 2.3% in the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock worth $1,157,749,000 after purchasing an additional 116,521 shares during the period. Geode Capital Management LLC lifted its holdings in Snowflake by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock worth $1,052,195,000 after purchasing an additional 249,668 shares during the period. Finally, Norges Bank acquired a new stake in Snowflake in the fourth quarter worth about $974,091,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SNOW shares. Piper Sandler upped their price objective on shares of Snowflake from $295.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. upped their price objective on shares of Snowflake from $245.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Sanford C. Bernstein upped their price objective on shares of Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, May 28th. DA Davidson upped their price objective on shares of Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Cantor Fitzgerald upped their price objective on shares of Snowflake from $225.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $291.77.

Snowflake Stock Down 0.2%

SNOW opened at $232.38 on Monday. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s fifty day moving average is $173.64 and its 200-day moving average is $189.84. The company has a market capitalization of $80.54 billion, a PE ratio of -66.02 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, equities analysts predict that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 2,729 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $239.00, for a total transaction of $652,231.00. Following the sale, the executive vice president directly owned 413,002 shares of the company’s stock, valued at $98,707,478. The trade was a 0.66% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Garrett sold 100,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the sale, the director directly owned 8,801 shares in the company, valued at $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,589,550 shares of company stock worth $359,438,410 over the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

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.