Plato Investment Management Ltd Invests $1.69 Million in Snowflake Inc. $SNOW

Plato Investment Management Ltd acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,670 shares of the company's stock, valued at approximately $1,688,000.

A number of other institutional investors have also modified their holdings of SNOW. United Asset Strategies Inc. raised its holdings in Snowflake by 1.4% in the fourth quarter. United Asset Strategies Inc. now owns 3,544 shares of the company's stock valued at $777,000 after buying an additional 50 shares during the period. Physician Wealth Advisors Inc. grew its stake in Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock worth $31,000 after buying an additional 51 shares during the period. Johnson Investment Counsel Inc. grew its stake in Snowflake by 4.5% during the fourth quarter. Johnson Investment Counsel Inc. now owns 1,383 shares of the company's stock worth $303,000 after buying an additional 60 shares during the period. Great Valley Advisor Group Inc. increased its position in shares of Snowflake by 4.4% in the fourth quarter. Great Valley Advisor Group Inc. now owns 1,438 shares of the company's stock worth $316,000 after acquiring an additional 60 shares in the last quarter. Finally, LRI Investments LLC increased its position in shares of Snowflake by 4.5% in the fourth quarter. LRI Investments LLC now owns 1,437 shares of the company's stock worth $315,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SNOW. Mizuho lifted their target price on shares of Snowflake from $220.00 to $295.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. Canaccord Genuity Group increased their price target on Snowflake from $240.00 to $325.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Morgan Stanley raised their price objective on Snowflake from $245.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, May 28th. Truist Financial boosted their price objective on Snowflake from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $275.00 target price on shares of Snowflake in a research note on Thursday, May 28th. Thirty-four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $307.46.

Insider Activity at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the transaction, the director directly owned 8,801 shares in the company, valued at $2,200,250. This represents a 91.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 437,076 shares of the firm's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the transaction, the director directly owned 38,046 shares of the company's stock, valued at approximately $9,603,951.78. This represents a 91.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 2,027,351 shares of company stock valued at $509,659,117. Insiders own 4.80% of the company's stock.

Snowflake Stock Performance

Snowflake stock opened at $331.23 on Tuesday. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $341.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $114.80 billion, a price-to-earnings ratio of -94.10 and a beta of 1.33. The firm's fifty day moving average price is $272.06 and its 200 day moving average price is $206.29.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the prior year, the company posted $0.24 EPS. The firm's revenue for the quarter was up 33.5% on a year-over-year basis. On average, research analysts forecast that Snowflake Inc. will post -1.81 EPS for the current fiscal year.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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