TimesSquare Capital Management LLC Grows Stock Position in Snowflake Inc. $SNOW

TimesSquare Capital Management LLC grew its position in Snowflake Inc. (NYSE:SNOW) by 86.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 209,653 shares of the company’s stock after buying an additional 97,128 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Snowflake were worth $45,989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Grey Fox Wealth Advisors LLC purchased a new position in Snowflake during the third quarter worth approximately $25,000. GoalVest Advisory LLC lifted its position in Snowflake by 221.4% during the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after buying an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after buying an additional 51 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in Snowflake by 50.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after buying an additional 50 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new position in Snowflake during the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $176.91, for a total value of $17,691,000.00. Following the transaction, the director owned 50,329 shares of the company’s stock, valued at $8,903,703.39. This represents a 66.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Vivek Raghunathan sold 3,876 shares of the company’s stock in a transaction on 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 transaction, the senior vice president directly owned 273,323 shares in the company, valued at approximately $41,763,754.40. This trade represents a 1.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 384,313 shares of company stock worth $64,308,373. Company insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on SNOW shares. Royal Bank Of Canada set a $245.00 price objective on Snowflake in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Snowflake in a research report on Wednesday, January 21st. Canaccord Genuity Group reduced their price objective on Snowflake from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Monness Crespi & Hardt lifted their price objective on Snowflake from $275.00 to $282.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Citigroup reiterated a “buy” rating on shares of Snowflake in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.19.

Snowflake Stock Performance

Shares of Snowflake stock opened at $164.24 on Tuesday. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $280.67. The business’s fifty day simple moving average is $154.76 and its 200-day simple moving average is $195.52. The firm has a market cap of $56.78 billion, a PE ratio of -41.58 and a beta of 1.08. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18.

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