Snowflake Inc. $SNOW Stock Position Lessened by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC lessened its position in shares of Snowflake Inc. (NYSE:SNOW) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,516 shares of the company’s stock after selling 6,813 shares during the quarter. Snowflake comprises 2.8% of Zevenbergen Capital Investments LLC’s holdings, making the stock its 12th biggest position. Zevenbergen Capital Investments LLC’s holdings in Snowflake were worth $122,756,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC boosted its position in shares of Snowflake by 2.3% in the 4th 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 in the last quarter. Janus Henderson Group PLC increased its position in shares of Snowflake by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock valued at $452,014,000 after acquiring an additional 544,960 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Snowflake by 44.7% during the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock worth $392,259,000 after purchasing an additional 803,110 shares during the period. Swedbank AB boosted its holdings in shares of Snowflake by 24.0% in the 1st quarter. Swedbank AB now owns 1,649,771 shares of the company’s stock valued at $248,818,000 after acquiring an additional 319,356 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. acquired a new position in shares of Snowflake in the 4th quarter valued at about $345,619,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW traded up $11.05 during mid-day trading on Thursday, reaching $343.90. The stock had a trading volume of 3,988,343 shares, compared to its average volume of 6,522,898. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $384.56. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50 day simple moving average of $328.81 and a 200 day simple moving average of $246.65. The firm has a market capitalization of $121.33 billion, a price-to-earnings ratio of -108.14 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%.The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $0.35 earnings per share. Snowflake’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, analysts expect that Snowflake Inc. will post -1.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNOW. Weiss Ratings restated a “sell (e+)” rating on shares of Snowflake in a research note on Tuesday, September 8th. DA Davidson boosted their target price on Snowflake from $300.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Wells Fargo & Company raised their price objective on shares of Snowflake from $500.00 to $525.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Evercore restated an “outperform” rating and issued a $430.00 target price on shares of Snowflake in a research report on Thursday, September 3rd. Finally, Oppenheimer lifted their target price on shares of Snowflake from $400.00 to $475.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $414.24.

Insider Transactions at Snowflake

In other news, Director Michael Speiser sold 50,338 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $324.06, for a total transaction of $16,312,532.28. Following the completion of the sale, the director owned 26,036 shares in the company, valued at approximately $8,437,226.16. The trade was a 65.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $325.00, for a total value of $8,125,000.00. Following the completion of the transaction, the executive vice president directly owned 340,379 shares in the company, valued at $110,623,175. This trade represents a 6.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,246,429 shares of company stock valued at $396,227,952. Corporate insiders own 4.80% of the company’s stock.

Snowflake Profile

Snowflake Inc (NYSE: SNOW) provides a cloud-based data platform that enables organizations to store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and artificial intelligence workloads in a single environment.

Snowflake’s services include cloud data storage and computing, data sharing and collaboration tools, governance and security capabilities, and access to third-party data through the Snowflake Marketplace.