Legacy Trust Buys 1,765 Shares of Snowflake Inc. $SNOW

Legacy Trust grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 15.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,934 shares of the company’s stock after buying an additional 1,765 shares during the period. Legacy Trust’s holdings in Snowflake were worth $4,392,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC raised 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 worth $452,014,000 after buying an additional 544,960 shares during the period. Assenagon Asset Management S.A. grew its position in Snowflake by 134.5% during the third quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company’s stock valued at $268,351,000 after acquiring an additional 453,342 shares during the period. National Pension Service grew its position in Snowflake by 3.3% during the second quarter. National Pension Service now owns 690,349 shares of the company’s stock valued at $175,694,000 after acquiring an additional 21,915 shares during the period. Swiss National Bank grew its position in Snowflake by 7.1% during the first quarter. Swiss National Bank now owns 944,600 shares of the company’s stock valued at $142,465,000 after acquiring an additional 62,600 shares during the period. Finally, CI Investments Inc. increased its stake in Snowflake by 34.6% during the first quarter. CI Investments Inc. now owns 720,810 shares of the company’s stock worth $108,713,000 after acquiring an additional 185,261 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Down 0.7%

Shares of Snowflake stock opened at $299.01 on Friday. The company has a fifty day moving average price of $326.01 and a 200 day moving average price of $243.40. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $384.56. The stock has a market cap of $105.49 billion, a price-to-earnings ratio of -94.03 and a beta of 1.32.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. Equities research analysts forecast that Snowflake Inc. will post -1.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael Speiser sold 840 shares of the company’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $275.92, for a total value of $231,772.80. Following the completion of the sale, the director owned 23,516 shares of the company’s stock, valued at $6,488,534.72. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Beaulier sold 755 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $336.36, for a total value of $253,951.80. Following the completion of the sale, the executive owned 211,619 shares of the company’s stock, valued at approximately $71,180,166.84. This trade represents a 0.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,186,443 shares of company stock worth $387,734,752 over the last three months. 4.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of research reports. Citigroup raised their price objective on Snowflake from $395.00 to $490.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. UBS Group lifted their price objective on Snowflake from $425.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. The Goldman Sachs Group boosted their target price on Snowflake from $300.00 to $436.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Cantor Fitzgerald increased their target price on shares of Snowflake from $405.00 to $430.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Finally, Monness Crespi & Hardt increased their target price on shares of Snowflake from $380.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Thirty-six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $413.87.

Snowflake Company Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.