Vanguard Group Inc. Boosts Stock Position in Snowflake Inc. $SNOW

Vanguard Group Inc. raised its stake in Snowflake Inc. (NYSE:SNOW) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,647,593 shares of the company’s stock after purchasing an additional 857,832 shares during the quarter. Vanguard Group Inc. owned 8.46% of Snowflake worth $6,461,465,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SNOW. Grey Fox Wealth Advisors LLC purchased a new position in Snowflake in the third quarter valued at about $25,000. Avion Wealth raised its position in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the period. Tripletail Wealth Management LLC bought a new stake in shares of Snowflake during the 3rd quarter worth about $28,000. Rossby Financial LCC boosted its position in shares of Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 127 shares during the period. Finally, SJS Investment Consulting Inc. grew its stake in Snowflake by 4,333.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock valued at $30,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Scotiabank reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, December 4th. Jefferies Financial Group set a $300.00 price objective on Snowflake in a research report on Monday, November 24th. Needham & Company LLC reissued a “buy” rating and set a $280.00 price target on shares of Snowflake in a research report on Thursday, December 4th. TD Cowen reiterated a “buy” rating on shares of Snowflake in a report on Thursday, December 4th. Finally, KeyCorp increased their price objective on Snowflake from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $274.68.

Insider Buying and Selling

In other news, CAO Emily Ho sold 1,072 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $223.63, for a total transaction of $239,731.36. Following the completion of the transaction, the chief accounting officer owned 43,809 shares in the company, valued at approximately $9,797,006.67. This represents a 2.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $197.09, for a total transaction of $1,970,900.00. Following the transaction, the executive vice president owned 461,351 shares of the company’s stock, valued at $90,927,668.59. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 613,681 shares of company stock worth $130,573,518 in the last three months. Insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $182.37 on Tuesday. The firm has a market cap of $62.41 billion, a P/E ratio of -45.14 and a beta of 1.14. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s 50 day moving average is $207.74 and its 200 day moving average is $224.91.

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

About Snowflake

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.