Pandora Wealth Inc. Invests $365,000 in Snowflake Inc. (NYSE:SNOW)

Key Points

• Pandora Wealth Inc. invested $365,000 in Snowflake Inc. by acquiring 2,500 shares during the first quarter, according to a filing with the SEC.
• Multiple institutional investors have increased their holdings in Snowflake, with Vanguard Group Inc. and Price T Rowe Associates significantly boosting their stakes.
• Snowflake recently reported a quarterly revenue of $1.04 billion, exceeding analysts' expectations, and its shares have a current consensus rating of "Moderate Buy" with an average price target of $226.73.

Pandora Wealth Inc. bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,500 shares of the company's stock, valued at approximately $365,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SNOW. Vanguard Group Inc. raised its position in Snowflake by 1.2% during the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock valued at $3,974,705,000 after buying an additional 316,573 shares during the period. Price T Rowe Associates Inc. MD raised its position in Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after buying an additional 2,200,406 shares during the period. Goldman Sachs Group Inc. raised its position in Snowflake by 22.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after buying an additional 650,775 shares during the period. Baillie Gifford & Co. raised its position in Snowflake by 8.2% during the first quarter. Baillie Gifford & Co. now owns 2,928,696 shares of the company's stock valued at $428,058,000 after buying an additional 222,920 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Snowflake by 16.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,253,476 shares of the company's stock valued at $347,959,000 after buying an additional 317,697 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In other Snowflake news, Director Teresa Briggs sold 1,146 shares of the firm'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 completion of the sale, the director owned 4,474 shares in the company, valued at approximately $974,168.76. This trade represents a 20.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 256,046 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $227.15, for a total value of $58,160,848.90. Following the completion of the transaction, the director directly owned 165,507 shares of the company's stock, valued at approximately $37,594,915.05. The trade was a 60.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,014,642 shares of company stock worth $657,325,186 over the last 90 days. Insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $191.94 on Friday. The business has a 50 day moving average price of $213.98 and a 200 day moving average price of $183.92. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $229.27. The company has a market cap of $64.08 billion, a price-to-earnings ratio of -45.59 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned $0.14 EPS. The company's quarterly revenue was up 25.8% on a year-over-year basis. Research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SNOW. Stephens began coverage on Snowflake in a research report on Friday, July 18th. They set an "overweight" rating and a $261.00 price target on the stock. KeyCorp reissued an "overweight" rating on shares of Snowflake in a research report on Wednesday, June 25th. Needham & Company LLC reissued a "buy" rating and set a $230.00 price target on shares of Snowflake in a research report on Thursday, June 5th. JMP Securities upped their price target on Snowflake from $245.00 to $260.00 and gave the company a "market outperform" rating in a research report on Friday, July 18th. Finally, Morgan Stanley started coverage on Snowflake in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $262.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $226.73.

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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