Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Invests $27.36 Million in Snowflake Inc. $SNOW

Key Points

• Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. invested approximately $27.36 million in Snowflake Inc., acquiring 122,253 shares during Q2, making it the firm's 16th largest position.
• Snowflake's recent quarterly earnings report revealed an EPS of $0.35, exceeding analyst expectations, with a revenue of $1.14 billion, up 31.8% year-over-year.
• Multiple analysts have revised their price targets for Snowflake, with estimates ranging from $210 to $275, reflecting growing confidence in the company's performance among investment firms.

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 122,253 shares of the company's stock, valued at approximately $27,357,000. Snowflake comprises approximately 3.2% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s portfolio, making the stock its 16th largest position.

Several other hedge funds have also recently added to or reduced their stakes in SNOW. Vanguard Personalized Indexing Management LLC lifted its stake in Snowflake by 21.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,151 shares of the company's stock valued at $5,628,000 after buying an additional 4,415 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Snowflake by 64.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,901 shares of the company's stock worth $873,000 after purchasing an additional 1,525 shares during the last quarter. Johnson Investment Counsel Inc. bought a new stake in Snowflake in the 2nd quarter valued at $262,000. waypoint wealth counsel grew its holdings in shares of Snowflake by 97.1% during the 2nd quarter. waypoint wealth counsel now owns 3,101 shares of the company's stock worth $694,000 after purchasing an additional 1,528 shares in the last quarter. Finally, 1858 Wealth Management LLC grew its stake in shares of Snowflake by 16.3% in the 2nd quarter. 1858 Wealth Management LLC now owns 2,595 shares of the company's stock valued at $581,000 after purchasing an additional 364 shares during the period. Institutional investors own 65.10% of the company's stock.

Snowflake Trading Down 3.3%

Shares of SNOW stock opened at $242.52 on Friday. The company's fifty day simple moving average is $218.64 and its two-hundred day simple moving average is $198.82. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. Snowflake Inc. has a 1 year low of $113.23 and a 1 year high of $255.39. The stock has a market capitalization of $82.17 billion, a price-to-earnings ratio of -58.44 and a beta of 1.21.

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

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research reports. Macquarie raised their target price on Snowflake from $210.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, August 28th. Raymond James Financial upped their price objective on Snowflake from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Morgan Stanley increased their price objective on Snowflake from $262.00 to $272.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. KeyCorp upped their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Finally, Rosenblatt Securities lifted their price objective on Snowflake from $210.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $256.18.

Insider Transactions at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $10,505,037.22. Following the sale, the director owned 36,116 shares in the company, valued at $7,537,048.04. This represents a 58.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president owned 241,854 shares in the company, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,182,434 shares of company stock worth $270,280,661. Corporate insiders own 6.80% of the company's stock.

About Snowflake

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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