Snowden Capital Advisors LLC purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,930 shares of the company's stock, valued at approximately $298,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SNOW. Jennison Associates LLC lifted its stake in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after buying an additional 3,662,671 shares in the last quarter. Norges Bank purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $988,950,000. FMR LLC lifted its position in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the period. GQG Partners LLC purchased a new position in Snowflake in the fourth quarter worth about $750,572,000. Finally, Geode Capital Management LLC lifted its position in Snowflake by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after purchasing an additional 15,314 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.
Snowflake Price Performance
Shares of SNOW traded down $0.54 on Wednesday, reaching $205.81. The stock had a trading volume of 1,362,771 shares, compared to its average volume of 6,466,692. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $209.46. The firm has a market capitalization of $67.94 billion, a PE ratio of -60.75 and a beta of 1.11. The firm has a 50-day moving average of $161.07 and a 200 day moving average of $164.98. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.
Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 EPS. Sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on SNOW shares. Citigroup reaffirmed an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Wall Street Zen upgraded Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Macquarie raised their price target on Snowflake from $160.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Oppenheimer reissued an "outperform" rating and issued a $225.00 price objective (up from $210.00) on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Raymond James reiterated an "outperform" rating and set a $212.00 target price (up from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $217.33.
View Our Latest Report on SNOW
Insider Transactions at Snowflake
In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $168.01, for a total transaction of $67,708.03. Following the sale, the director now directly owns 25,972 shares of the company's stock, valued at $4,363,555.72. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. The trade was a 50.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,963 shares of company stock valued at $58,204,058 over the last three months. 7.80% of the stock is currently owned by insiders.
Snowflake Company Profile
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Free Report)
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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