Neuberger Berman Group LLC Has $3.52 Million Stock Position in Snowflake Inc. $SNOW

Key Points

• Neuberger Berman Group LLC has reduced its stake in Snowflake Inc. by 55.6%, now holding 24,090 shares valued at approximately $3.52 million.
• Directors Michael L. Speiser and Frank Slootman have sold significant portions of their holdings, with Speiser reducing his position by 1.52% and Slootman by 60.74%.
• After the recent transactions, Snowflake's stock has a market capitalization of $65.11 billion and boasts a 52-week high of $229.27.

Neuberger Berman Group LLC trimmed its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 55.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 24,090 shares of the company's stock after selling 30,186 shares during the period. Neuberger Berman Group LLC's holdings in Snowflake were worth $3,521,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SNOW. Quarry LP boosted its position in shares of Snowflake by 9.8% in the 4th quarter. Quarry LP now owns 662 shares of the company's stock worth $102,000 after purchasing an additional 59 shares during the last quarter. Ignite Planners LLC boosted its position in shares of Snowflake by 2.3% in the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock worth $418,000 after purchasing an additional 64 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after purchasing an additional 65 shares during the last quarter. Archford Capital Strategies LLC raised its stake in Snowflake by 1.9% during the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock worth $527,000 after buying an additional 68 shares during the period. Finally, TD Private Client Wealth LLC raised its stake in Snowflake by 8.9% during the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock worth $122,000 after buying an additional 68 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

Snowflake stock traded down $5.5140 during midday trading on Tuesday, reaching $192.7260. 2,185,234 shares of the company's stock were exchanged, compared to its average volume of 5,021,716. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $229.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market cap of $64.34 billion, a price-to-earnings ratio of -45.79 and a beta of 1.22. The stock's 50-day simple moving average is $212.25 and its 200 day simple moving average is $184.68.

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, topping analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%.The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the company posted $0.14 earnings per share. Snowflake's quarterly revenue was up 25.8% on a year-over-year basis. On average, analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $216.00, for a total transaction of $2,160,000.00. Following the completion of the sale, the executive vice president owned 537,336 shares in the company, valued at $116,064,576. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Teresa Briggs sold 1,146 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $217.74, for a total value of $249,530.04. Following the sale, the director owned 4,474 shares of the company's stock, valued at approximately $974,168.76. This represents a 20.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,014,642 shares of company stock worth $657,325,186. Insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on SNOW shares. DA Davidson reaffirmed a "buy" rating and set a $250.00 price objective on shares of Snowflake in a research note on Wednesday, June 4th. Morgan Stanley started coverage on Snowflake in a research note on Tuesday, June 24th. They set an "overweight" rating and a $262.00 price objective on the stock. Truist Financial raised their price objective on Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and issued a $230.00 price target on shares of Snowflake in a research note on Thursday, June 5th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus target price of $226.32.

Snowflake 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.