Danske Bank A S Has $39.15 Million Stock Holdings in Snowflake Inc. $SNOW

Key Points

• Danske Bank A/S raised its Snowflake stake by 9.3% to 178,480 shares — worth about $39.15 million and roughly 0.05% of the company at quarter-end.
• Company insiders have been net sellers, disposing of a total of 394,313 shares (~$67.48 million) in the past 90 days, including large sales by directors Michael L. Speiser and Frank Slootman.
• Snowflake beat quarterly expectations with $0.32 EPS (vs. $0.27 est.) and revenue of $1.28 billion (up 30.1% YoY); analysts still show a consensus of "Moderate Buy" with an average price target near $242.19.

Danske Bank A S boosted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,480 shares of the company's stock after purchasing an additional 15,112 shares during the period. Danske Bank A S owned about 0.05% of Snowflake worth $39,151,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after buying an additional 29,320 shares in the last quarter. Intech Investment Management LLC boosted its holdings 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 valued at $1,637,000 after acquiring an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. grew its position in 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 acquiring an additional 73 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in Snowflake during the 2nd quarter worth $221,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Snowflake by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company's stock worth $5,055,000 after purchasing an additional 1,521 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Trading Up 3.5%

Shares of SNOW stock opened at $141.28 on Friday. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $280.67. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18. The stock has a market cap of $48.84 billion, a price-to-earnings ratio of -35.77 and a beta of 1.08. The stock has a 50-day moving average of $158.11 and a 200-day moving average of $203.04.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm's quarterly revenue was up 30.1% on a year-over-year basis. On average, equities research analysts forecast that Snowflake Inc. will post -2.16 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on SNOW. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research report on Wednesday, February 18th. Morgan Stanley lowered their price objective on Snowflake from $270.00 to $245.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. UBS Group dropped their price objective on shares of Snowflake from $235.00 to $210.00 and set a "buy" rating for the company in a report on Tuesday, April 21st. The Goldman Sachs Group cut their target price on shares of Snowflake from $286.00 to $246.00 and set a "buy" rating on the stock in a research report on Wednesday, February 11th. Finally, Canaccord Genuity Group reduced their target price on shares of Snowflake from $270.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $242.19.

Insider Activity

In other news, Director Michael L. Speiser sold 50,338 shares of the business's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $175.19, for a total value of $8,818,714.22. Following the transaction, the director owned 30,236 shares in the company, valued at approximately $5,297,044.84. The trade was a 62.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 100,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director owned 50,329 shares in the company, valued at $8,903,703.39. This trade represents a 66.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 394,313 shares of company stock worth $67,477,780 in the last 90 days. 6.80% of the stock is owned by company insiders.

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.

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