Spyglass Capital Management LLC Has $89.10 Million Position in Snowflake Inc. (NYSE:SNOW)

Spyglass Capital Management LLC grew its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 577,034 shares of the company's stock after purchasing an additional 29,186 shares during the quarter. Snowflake makes up approximately 5.0% of Spyglass Capital Management LLC's portfolio, making the stock its 5th largest holding. Spyglass Capital Management LLC owned 0.17% of Snowflake worth $89,100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Temasek Holdings Private Ltd acquired a new stake in Snowflake during the fourth quarter worth $820,000. True Wealth Design LLC boosted its stake in Snowflake by 125.4% during the fourth quarter. True Wealth Design LLC now owns 462 shares of the company's stock worth $71,000 after buying an additional 257 shares in the last quarter. Trustees of Columbia University in the City of New York acquired a new stake in Snowflake during the fourth quarter worth $1,644,000. Toronto Dominion Bank boosted its stake in Snowflake by 9.2% during the fourth quarter. Toronto Dominion Bank now owns 40,655 shares of the company's stock worth $6,278,000 after buying an additional 3,429 shares in the last quarter. Finally, Snowden Capital Advisors LLC acquired a new stake in Snowflake during the fourth quarter worth $298,000. Institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent research reports. Macquarie lifted their price target on shares of Snowflake from $160.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday. Needham & Company LLC boosted their target price on shares of Snowflake from $215.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday. Robert W. Baird boosted their target price on shares of Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday. Stifel Nicolaus boosted their target price on shares of Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Citigroup boosted their target price on shares of Snowflake from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and a consensus price target of $215.27.

Insider Buying and Selling

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frank Slootman sold 1,783 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the transaction, the director now directly owns 192,511 shares of the company's stock, valued at $28,345,319.64. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock valued at $58,204,058 over the last quarter. 7.80% of the stock is owned by company insiders.

Snowflake Stock Performance

SNOW traded up $24.23 during trading hours on Thursday, reaching $203.35. The company's stock had a trading volume of 26,161,167 shares, compared to its average volume of 6,502,813. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $203.84. The company's 50-day moving average is $157.35 and its 200-day moving average is $162.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $67.13 billion, a PE ratio of -59.99 and a beta of 1.11.

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, beating analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 EPS. On average, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Snowflake Company 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.