Liontrust Investment Partners LLP Trims Stake in Snowflake Inc. (NYSE:SNOW)

Key Points

• Liontrust Investment Partners LLP has reduced its stake in Snowflake Inc. by 46.9%, holding 73,835 shares worth approximately $10.79 million at the end of the last quarter.
• Snowflake's recent quarterly earnings showed a revenue of $1.04 billion, surpassing expectations, with significant growth of 25.8% year-over-year.
• Analyst ratings for Snowflake indicate broad confidence, with a consensus rating of Moderate Buy and an average price target of $226.32 from 33 analysts.

Liontrust Investment Partners LLP decreased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 46.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 73,835 shares of the company's stock after selling 65,335 shares during the period. Liontrust Investment Partners LLP's holdings in Snowflake were worth $10,792,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SNOW. Nuveen LLC purchased a new position in shares of Snowflake during the 1st quarter worth approximately $555,847,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after acquiring an additional 2,200,406 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Snowflake by 22.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after acquiring an additional 650,775 shares during the period. Invesco Ltd. grew its holdings in shares of Snowflake by 26.5% during the 1st quarter. Invesco Ltd. now owns 3,088,288 shares of the company's stock worth $451,384,000 after acquiring an additional 647,176 shares during the period. Finally, Voya Investment Management LLC grew its holdings in shares of Snowflake by 157.0% during the 4th quarter. Voya Investment Management LLC now owns 925,817 shares of the company's stock worth $142,955,000 after acquiring an additional 565,561 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Price Performance

Shares of Snowflake stock opened at $195.02 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $229.27. The stock's fifty day moving average is $212.74 and its 200 day moving average is $184.44. The stock has a market cap of $65.11 billion, a P/E ratio of -46.32 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business's quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. Sell-side analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on SNOW. Scotiabank reiterated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Citigroup restated an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Cantor Fitzgerald upped their price target on Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. DA Davidson restated a "buy" rating and issued a $250.00 price target on shares of Snowflake in a research note on Wednesday, June 4th. Finally, CICC Research assumed coverage on Snowflake in a research note on Friday, June 20th. They issued an "outperform" rating and a $225.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $226.32.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 256,046 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $227.15, for a total transaction of $58,160,848.90. Following the sale, the director directly owned 165,507 shares of the company's stock, valued at $37,594,915.05. This trade represents a 60.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $208.69, for a total value of $84,102.07. Following the sale, the director directly owned 26,136 shares in the company, valued at approximately $5,454,321.84. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,014,642 shares of company stock valued at $657,325,186 in the last ninety days. 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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