Ethic Inc. Has $5.82 Million Stock Holdings in Snowflake Inc. $SNOW

Key Points

• Ethic Inc. holds $5.82 million in Snowflake Inc. after reducing its shareholding by 4.2% in Q2, owning 26,152 shares at the time of its latest filing.
• Several analysts have upgraded their **price targets** for Snowflake, with estimates now ranging from $260 to $280, reflecting a positive outlook on the company's performance.
• Snowflake reported a **revenue increase** of 31.8% year-over-year for the last quarter, achieving $1.14 billion in revenue and surpassing analysts' expectations.

Ethic Inc. trimmed its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,152 shares of the company's stock after selling 1,142 shares during the quarter. Ethic Inc.'s holdings in Snowflake were worth $5,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SNOW. Kingstone Capital Partners Texas LLC bought a new stake in Snowflake during the second quarter worth about $3,900,134,000. Nuveen LLC bought a new stake in shares of Snowflake during the first quarter valued at approximately $555,847,000. AQR Capital Management LLC grew its stake in shares of Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company's stock valued at $456,430,000 after purchasing an additional 2,460,769 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Snowflake by 19.2% during 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 last quarter. Finally, Amundi grew its stake in shares of Snowflake by 72.7% during the first quarter. Amundi now owns 1,808,250 shares of the company's stock valued at $252,974,000 after purchasing an additional 760,923 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SNOW. Royal Bank Of Canada increased their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Mizuho increased their price target on shares of Snowflake from $235.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. The Goldman Sachs Group increased their price target on shares of Snowflake from $230.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Needham & Company LLC increased their price target on shares of Snowflake from $230.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Finally, Stephens initiated coverage on shares of Snowflake in a research note on Friday, July 18th. They issued an "overweight" rating and a $261.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and an average target price of $257.24.

Snowflake Trading Down 2.3%

Shares of NYSE:SNOW opened at $241.71 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The company's fifty day simple moving average is $225.44 and its 200 day simple moving average is $203.78. The firm has a market cap of $81.89 billion, a price-to-earnings ratio of -58.24 and a beta of 1.21. Snowflake Inc. has a 12 month low of $113.23 and a 12 month high of $255.39.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. Snowflake's quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. As a group, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 2,976 shares of the business's stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $236.01, for a total value of $702,365.76. Following the completion of the sale, the director owned 34,436 shares of the company's stock, valued at $8,127,240.36. The trade was a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank Slootman sold 7,551 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the completion of the sale, the director directly owned 153,226 shares of the company's stock, valued at $33,899,720.24. This represents a 4.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,182,434 shares of company stock worth $270,280,661. Company insiders own 6.80% of the company's stock.

Snowflake Company Profile

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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