PKO Investment Management Joint Stock Co Purchases Shares of 13,000 Snowflake Inc. (NYSE:SNOW)

PKO Investment Management Joint Stock Co acquired a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,000 shares of the company's stock, valued at approximately $2,007,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Snowflake during the 4th quarter worth about $988,950,000. GQG Partners LLC purchased a new stake in Snowflake in the 4th quarter valued at about $750,572,000. Jennison Associates LLC lifted its holdings in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. FMR LLC grew its stake in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after buying an additional 2,805,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $612,817,000 after purchasing an additional 2,200,406 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Ratings Changes

SNOW has been the topic of several analyst reports. Daiwa Capital Markets initiated coverage on Snowflake in a research note on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price objective on the stock. Bank of America increased their price target on Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Needham & Company LLC upped their price objective on Snowflake from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. UBS Group boosted their price target on shares of Snowflake from $200.00 to $210.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, Barclays reaffirmed an "overweight" rating and issued a $219.00 target price (up from $203.00) on shares of Snowflake in a report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $217.33.

Insider Activity at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at $60,090,389.60. This represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 849,779 shares of company stock worth $158,838,193. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Trading Up 1.7%

Shares of Snowflake stock traded up $3.38 during mid-day trading on Friday, hitting $205.69. 7,073,445 shares of the stock were exchanged, compared to its average volume of 6,465,452. The company has a 50-day simple moving average of $162.77 and a 200 day simple moving average of $165.80. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $68.67 billion, a price-to-earnings ratio of -60.68 and a beta of 1.11. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $209.80.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. Snowflake's revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 earnings per share. Research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

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.