Canada Pension Plan Investment Board raised its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 21.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,224 shares of the company's stock after acquiring an additional 57,253 shares during the period. Canada Pension Plan Investment Board owned approximately 0.10% of Snowflake worth $47,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock worth $3,974,705,000 after purchasing an additional 316,573 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock valued at $691,693,000 after purchasing an additional 763,673 shares during the period. Nuveen LLC acquired a new position in shares of Snowflake during the first quarter valued at approximately $555,847,000. Goldman Sachs Group Inc. grew its position in shares of Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after purchasing an additional 650,775 shares in the last quarter. Finally, Invesco Ltd. grew its position in Snowflake by 26.5% in the first quarter. Invesco Ltd. now owns 3,088,288 shares of the company's stock worth $451,384,000 after acquiring an additional 647,176 shares during the period. 65.10% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
SNOW has been the topic of several analyst reports. Hsbc Global Res cut Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Sanford C. Bernstein lifted their price objective on Snowflake from $191.00 to $221.00 and gave the stock a "market perform" rating in a research report on Thursday, August 28th. The Goldman Sachs Group increased their price target on Snowflake from $230.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Truist Financial increased their price target on Snowflake from $235.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Finally, Robert W. Baird lifted their price target on Snowflake from $215.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $255.53.
Check Out Our Latest Analysis on SNOW
Insider Buying and Selling
In related news, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the sale, the director directly owned 165,507 shares of the company's stock, valued at approximately $38,144,398.29. The trade was a 81.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 3,176,168 shares of company stock valued at $708,898,070. 6.80% of the stock is owned by company insiders.
Snowflake Price Performance
Shares of SNOW stock traded up $2.62 during trading hours on Friday, reaching $224.52. 3,373,682 shares of the company were exchanged, compared to its average volume of 5,392,019. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $249.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market cap of $74.96 billion, a price-to-earnings ratio of -54.08 and a beta of 1.22. The stock's fifty day moving average is $212.27 and its two-hundred day moving average is $187.06.
Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 41.42%. The firm's revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Sell-side analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.
Snowflake Company Profile
(
Free Report)
Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.
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