Napean Trading & Investment Co Singapore PTE Ltd Sells 19,341 Shares of Snowflake Inc. $SNOW

Napean Trading & Investment Co Singapore PTE Ltd lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 36.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 33,577 shares of the company’s stock after selling 19,341 shares during the period. Snowflake makes up about 1.4% of Napean Trading & Investment Co Singapore PTE Ltd’s holdings, making the stock its 18th biggest holding. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Snowflake were worth $7,365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Snowflake by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after acquiring an additional 1,448,094 shares during the last quarter. Jennison Associates LLC grew its position in Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after acquiring an additional 2,519,413 shares during the last quarter. Nuveen LLC grew its position in Snowflake by 2.3% in the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock valued at $1,157,749,000 after acquiring an additional 116,521 shares during the last quarter. Geode Capital Management LLC grew its position in Snowflake by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock valued at $1,052,195,000 after acquiring an additional 249,668 shares during the last quarter. Finally, Norges Bank bought a new position in Snowflake in the fourth quarter valued at about $974,091,000. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 437,076 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the completion of the transaction, the director directly owned 38,046 shares in the company, valued at $9,603,951.78. This trade represents a 91.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 8,801 shares of the company’s stock, valued at $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,589,550 shares of company stock worth $359,438,410 over the last ninety days. 4.80% of the stock is owned by insiders.

Snowflake Stock Performance

Snowflake stock opened at $232.38 on Friday. The business has a 50 day moving average of $173.64 and a 200-day moving average of $190.21. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $80.54 billion, a P/E ratio of -66.02 and a beta of 1.35.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The firm’s revenue was up 33.5% compared to the same quarter last year. On average, equities research analysts predict that Snowflake Inc. will post -1.87 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on SNOW. Citizens Jmp reiterated a “market outperform” rating and issued a $325.00 target price on shares of Snowflake in a research report on Tuesday, May 19th. Needham & Company LLC lifted their price target on Snowflake from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Royal Bank Of Canada boosted their price target on Snowflake from $220.00 to $284.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Wednesday, February 18th. Finally, Mizuho upped their price objective on Snowflake from $220.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $291.77.

Snowflake 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.