Hussman Strategic Advisors Inc. Makes New Investment in Snowflake Inc. $SNOW

Key Points

• Hussman Strategic Advisors purchased a new stake of 8,400 Snowflake shares (~$1.843M) in Q4, at a time when institutional ownership is about 65.1%.
• Several analysts have cut price targets recently, but the consensus remains a Moderate Buy with an average target of $242.19.
• Snowflake beat the quarter (EPS $0.32 vs $0.27; revenue $1.28B, +30% YoY) yet remains unprofitable (net margin -28.4%), and insiders have sold roughly 394,313 shares (~$67.5M) in the last 90 days.

Hussman Strategic Advisors Inc. purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,400 shares of the company's stock, valued at approximately $1,843,000.

Several other large investors have also made changes to their positions in SNOW. Grey Fox Wealth Advisors LLC bought a new position in shares of Snowflake in the third quarter worth about $25,000. SJS Investment Consulting Inc. raised its stake in Snowflake by 4,333.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 133 shares of the company's stock valued at $30,000 after purchasing an additional 130 shares during the period. GoalVest Advisory LLC lifted its holdings in Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company's stock worth $30,000 after purchasing an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. lifted its holdings in Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock worth $31,000 after purchasing an additional 51 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company's stock worth $33,000 after purchasing an additional 50 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SNOW shares. Barclays cut their price objective on shares of Snowflake from $204.00 to $192.00 and set an "equal weight" rating for the company in a report on Thursday, February 26th. Piper Sandler lowered their target price on shares of Snowflake from $285.00 to $230.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Stifel Nicolaus set a $205.00 target price on shares of Snowflake in a research note on Thursday, February 26th. Truist Financial set a $125.00 target price on shares of Snowflake in a research note on Wednesday, April 15th. Finally, Sanford C. Bernstein decreased their price target on shares of Snowflake from $237.00 to $195.00 and set a "market perform" rating on the stock in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $242.19.

Snowflake Trading Up 3.5%

SNOW stock opened at $141.28 on Friday. The firm has a fifty day moving average price of $158.11 and a 200 day moving average price of $202.73. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $280.67. The firm has a market cap of $48.84 billion, a PE ratio of -35.77 and a beta of 1.08. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.30 and a current ratio of 1.30.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Snowflake's revenue was up 30.1% on a year-over-year basis. Sell-side analysts anticipate that Snowflake Inc. will post -2.16 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other news, CAO Emily Ho sold 2,141 shares of the company's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $173.97, for a total transaction of $372,469.77. Following the sale, the chief accounting officer directly owned 44,553 shares in the company, valued at approximately $7,750,885.41. This represents a 4.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 2,621 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $170.01, for a total transaction of $445,596.21. Following the completion of the transaction, the executive vice president directly owned 533,494 shares of the company's stock, valued at approximately $90,699,314.94. The trade was a 0.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 394,313 shares of company stock worth $67,477,780. 6.80% of the stock is currently owned by corporate 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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