ASR Vermogensbeheer N.V. Acquires 6,919 Shares of Snowflake Inc. $SNOW

Key Points

• ASR Vermogensbeheer N.V. increased its Snowflake stake by 30.8% in the fourth quarter, buying 6,919 additional shares and bringing its total holding to 29,405 shares worth about $6.45 million.
• Snowflake’s latest results beat expectations, with quarterly EPS of $0.32 versus the $0.27 consensus and revenue of $1.28 billion, up 30.1% year over year.
• Insider selling and mixed analyst views were notable, including significant sales by EVP Christian Kleinerman and Director Frank Slootman, while analysts still rate the stock a “Moderate Buy” with an average price target of $242.19.

ASR Vermogensbeheer N.V. boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 30.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,405 shares of the company's stock after acquiring an additional 6,919 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Snowflake were worth $6,450,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SNOW. Brighton Jones LLC grew its holdings in Snowflake by 90.0% during the 4th 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 boosted its stake in shares of Snowflake by 24.0% in the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company's stock valued at $1,637,000 after purchasing an additional 2,167 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in shares of Snowflake in the 2nd quarter valued at $221,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Snowflake by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company's stock valued at $5,055,000 after purchasing an additional 1,521 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Down 1.0%

Shares of NYSE SNOW opened at $152.24 on Friday. The firm has a market cap of $52.63 billion, a PE ratio of -38.54 and a beta of 1.08. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $280.67. The company's fifty day simple moving average is $157.00 and its 200 day simple moving average is $200.44. 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 - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. Snowflake's revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.16 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $165.01, for a total transaction of $1,650,100.00. Following the transaction, the executive vice president directly owned 510,477 shares of the company's stock, valued at $84,233,809.77. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $176.91, for a total transaction of $17,691,000.00. Following the transaction, the director directly owned 50,329 shares in the company, valued at approximately $8,903,703.39. This represents a 66.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 384,313 shares of company stock valued at $64,308,373 in the last ninety days. Insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Snowflake from $268.00 to $245.00 and set an "overweight" rating on the stock in a research note on Thursday, February 26th. Monness Crespi & Hardt upped their price objective on shares of Snowflake from $275.00 to $282.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. BTIG Research reduced their price objective on shares of Snowflake from $312.00 to $235.00 and set a "buy" rating on the stock in a research note on Monday, February 23rd. Truist Financial set a $125.00 price objective on shares of Snowflake in a research note on Wednesday, April 15th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Snowflake in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $242.19.

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.

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