Federated Hermes Inc. Purchases 48,411 Shares of Snowflake Inc. $SNOW

Key Points

• Federated Hermes increased its Snowflake stake by 13.5% in Q3, buying 48,411 shares to hold 408,037 shares (about 0.12% of the company) valued at roughly $92.0 million.
• Company insiders have been net sellers, offloading 618,681 shares worth $137.4 million in the past three months (notably EVP Christian Kleinerman sold 10,000 shares and SVP Vivek Raghunathan sold 11,801), leaving insiders with 6.8% ownership.
• Analysts have a consensus Moderate Buy on Snowflake with an average target of $275.58; the company recently beat EPS estimates and posted 28.7% year‑over‑year revenue growth, while the stock trades near $216 with a negative P/E.

Federated Hermes Inc. increased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 408,037 shares of the company's stock after acquiring an additional 48,411 shares during the period. Federated Hermes Inc. owned about 0.12% of Snowflake worth $92,047,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Snowflake during the 2nd quarter worth $944,895,000. Winslow Capital Management LLC bought a new position in Snowflake in the second quarter valued at about $725,667,000. Jennison Associates LLC raised its stake in Snowflake by 20.5% during the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company's stock worth $1,790,309,000 after acquiring an additional 1,363,389 shares in the last quarter. Sei Investments Co. raised its stake in Snowflake by 272.4% during the second quarter. Sei Investments Co. now owns 1,593,329 shares of the company's stock worth $356,543,000 after acquiring an additional 1,165,515 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Snowflake by 15.2% in the second quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company's stock worth $1,108,045,000 after acquiring an additional 652,485 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $219.90, for a total transaction of $2,199,000.00. Following the completion of the sale, the executive vice president directly owned 471,351 shares in the company, valued at $103,650,084.90. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the transaction, the senior vice president directly owned 218,020 shares of the company's stock, valued at $48,060,328.80. This represents a 5.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 618,681 shares of company stock worth $137,427,145. Company insiders own 6.80% of the company's stock.

Snowflake Stock Performance

NYSE SNOW opened at $216.14 on Thursday. The company has a market capitalization of $73.96 billion, a price-to-earnings ratio of -53.50 and a beta of 1.14. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67. The stock has a fifty day simple moving average of $225.08 and a 200 day simple moving average of $228.25.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company posted $0.20 EPS. The business's revenue was up 28.7% on a year-over-year basis. Sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SNOW shares. Stifel Nicolaus lifted their price target on shares of Snowflake from $260.00 to $280.00 and gave the company a "buy" rating in a report on Thursday, December 4th. Rosenblatt Securities boosted their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock a "buy" rating in a research note on Monday, December 1st. Piper Sandler reiterated an "overweight" rating and issued a $285.00 price target on shares of Snowflake in a research note on Thursday, December 4th. The Goldman Sachs Group set a $286.00 price objective on Snowflake in a report on Monday, January 12th. Finally, Mizuho upped their target price on Snowflake from $260.00 to $285.00 and gave the stock an "outperform" rating in a report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and an average target price of $275.58.

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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