Wellington Management Group LLP Grows Stock Position in Snowflake Inc. (NYSE:SNOW)

Wellington Management Group LLP grew its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 1,325.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,527 shares of the company's stock after acquiring an additional 100,912 shares during the quarter. Wellington Management Group LLP's holdings in Snowflake were worth $16,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Snowflake in the 4th quarter worth approximately $988,950,000. GQG Partners LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at approximately $750,572,000. Jennison Associates LLC grew its position in shares of Snowflake by 92.2% during the 4th 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. FMR LLC increased its position in Snowflake by 84.9% during the 4th 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. Finally, Price T Rowe Associates Inc. MD raised its stake in Snowflake by 124.4% in 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 buying an additional 2,200,406 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Snowflake Trading Down 0.4%

NYSE:SNOW traded down $0.87 on Tuesday, reaching $209.30. The company's stock had a trading volume of 4,060,113 shares, compared to its average volume of 6,417,646. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $210.94. The stock has a 50 day moving average price of $164.64 and a 200 day moving average price of $167.45. The firm has a market cap of $69.88 billion, a price-to-earnings ratio of -61.74 and a beta of 1.21. 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 issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm 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%. Snowflake's revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. On average, equities analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was 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 approximately $47,756,878.10. The trade was a 50.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 834,779 shares of company stock valued at $156,261,943. Company insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several analyst reports. Guggenheim reissued a "neutral" rating on shares of Snowflake in a research report on Thursday, February 27th. Raymond James reiterated an "outperform" rating and issued a $212.00 price target (up previously from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. Hsbc Global Res lowered Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Scotiabank reiterated an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Mizuho increased their price target on Snowflake from $205.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $217.33.

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.