PDT Partners LLC Invests $482,000 in Snowflake Inc. $SNOW

PDT Partners LLC bought a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 3,300 shares of the company's stock, valued at approximately $482,000.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock worth $3,974,705,000 after purchasing an additional 316,573 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Snowflake by 19.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock valued at $691,693,000 after purchasing an additional 763,673 shares during the period. Nuveen LLC acquired a new stake in Snowflake in the 1st quarter valued at approximately $555,847,000. Goldman Sachs Group Inc. increased its position in Snowflake by 22.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after buying an additional 650,775 shares during the period. Finally, Invesco Ltd. increased its position in Snowflake by 26.5% in the 1st quarter. Invesco Ltd. now owns 3,088,288 shares of the company's stock worth $451,384,000 after buying an additional 647,176 shares during the period. Institutional investors own 65.10% of the company's stock.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total value of $163,652,829.01. Following the sale, the director directly owned 165,507 shares in the company, valued at $38,144,398.29. This represents a 81.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 3,176,168 shares of company stock worth $708,898,070. 6.80% of the stock is owned by company insiders.

Snowflake Stock Performance

NYSE SNOW opened at $222.04 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $249.99. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market cap of $74.13 billion, a P/E ratio of -53.50 and a beta of 1.22. The company's 50-day simple moving average is $212.27 and its 200 day simple moving average is $187.06.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 41.42% and a negative net margin of 33.53%.The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.18 earnings per share. The company's quarterly revenue was up 31.8% on a year-over-year basis. As a group, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Snowflake from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Wedbush raised their price target on shares of Snowflake from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Hsbc Global Res lowered shares of Snowflake from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Monness Crespi & Hardt increased their target price on shares of Snowflake from $245.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Finally, Rosenblatt Securities boosted their price target on Snowflake from $210.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $255.53.

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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