Danica Pension Livsforsikringsaktieselskab Takes $15.46 Million Position in Snowflake Inc. $SNOW

Danica Pension Livsforsikringsaktieselskab bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 102,484 shares of the company's stock, valued at approximately $15,457,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SNOW. Kemnay Advisory Services Inc. purchased a new stake in shares of Snowflake in the fourth quarter valued at $28,000. Greenline Wealth Management LLC purchased a new position in shares of Snowflake during the fourth quarter valued at $29,000. Physician Wealth Advisors Inc. raised its position in Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock valued at $31,000 after buying an additional 51 shares during the period. Emerald Advisers LLC raised its position in Snowflake by 95.2% during the first quarter. Emerald Advisers LLC now owns 205 shares of the company's stock valued at $31,000 after buying an additional 100 shares during the period. Finally, MV Capital Management Inc. purchased a new stake in Snowflake in the 4th quarter worth about $32,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Wall Street Analyst Weigh In

SNOW has been the topic of several research analyst reports. Scotiabank lifted their target price on Snowflake from $285.00 to $320.00 and gave the company a "sector outperform" rating in a research note on Monday, June 8th. Stifel Nicolaus raised their price target on shares of Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Citigroup raised their price target on shares of Snowflake from $260.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Bank of America boosted their price objective on shares of Snowflake from $205.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Finally, Monness Crespi & Hardt upped their price objective on shares of Snowflake from $282.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Thirty-four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and an average price target of $296.27.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $141.60, for a total transaction of $7,127,860.80. Following the transaction, the director owned 28,556 shares of the company's stock, valued at approximately $4,043,529.60. This trade represents a 63.80% 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 Snowflake stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the sale, 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. Over the last quarter, insiders have sold 1,802,015 shares of company stock valued at $421,739,629. 4.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Performance

Shares of SNOW stock opened at $270.92 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The stock's 50-day moving average is $232.28 and its two-hundred day moving average is $194.18. The firm has a market cap of $93.90 billion, a P/E ratio of -76.97 and a beta of 1.35.

Snowflake (NYSE:SNOW - Get Free Report) 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 company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business's quarterly revenue was up 33.5% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. Analysts predict that Snowflake Inc. will post -1.84 earnings per share for the current fiscal 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.

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