Snowflake Inc. $SNOW Shares Purchased by Delta Global Management LP

Delta Global Management LP lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 57.6% in the fourth quarter, HoldingsChannel reports. The firm owned 125,559 shares of the company’s stock after buying an additional 45,883 shares during the quarter. Snowflake makes up approximately 1.3% of Delta Global Management LP’s holdings, making the stock its 16th biggest holding. Delta Global Management LP’s holdings in Snowflake were worth $27,543,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in SNOW. Brighton Jones LLC lifted its stake in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after acquiring an additional 29,320 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after buying an additional 2,167 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after buying an additional 73 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Snowflake during the 2nd quarter worth approximately $221,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Snowflake by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock worth $5,055,000 after buying an additional 1,521 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the subject of several recent analyst reports. Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Wednesday, February 18th. Stifel Nicolaus boosted their price objective on shares of Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings downgraded shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. Truist Financial upped their price target on shares of Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Finally, Loop Capital upped their price target on shares of Snowflake from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $291.77.

Insider Activity

In related news, Director Frank Slootman sold 162,924 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $263.70, for a total value of $42,963,058.80. Following the transaction, the director owned 38,046 shares in the company, valued at approximately $10,032,730.20. This trade represents a 81.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 2,729 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $239.00, for a total transaction of $652,231.00. Following the completion of the transaction, the executive vice president owned 413,002 shares in the company, valued at $98,707,478. The trade was a 0.66% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,578,690 shares of company stock valued at $357,534,217 over the last quarter. 4.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

NYSE:SNOW opened at $240.61 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The stock has a market cap of $83.40 billion, a PE ratio of -68.35 and a beta of 1.35. The firm’s fifty day simple moving average is $175.41 and its 200-day simple moving average is $189.78.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. Analysts expect that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

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.