Snowflake Inc. $SNOW Shares Purchased by Nuveen LLC

Key Points

• Nuveen LLC increased its stake in Snowflake by 2.3% in the fourth quarter, ending with 5.28 million shares valued at about $1.16 billion. Institutional investors and hedge funds now own 65.1% of the company.
• Snowflake reported strong quarterly results, with EPS of $0.39 beating estimates of $0.32 and revenue of $1.39 billion topping expectations. Revenue rose 33.5% from a year earlier.
• Analysts remain mostly bullish on SNOW, with a consensus rating of “Moderate Buy” and an average price target of $291.77. Several firms recently raised targets, including Goldman Sachs, Bank of America, Piper Sandler, and Oppenheimer.

Nuveen LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,277,851 shares of the company's stock after purchasing an additional 116,521 shares during the quarter. Nuveen LLC owned 1.54% of Snowflake worth $1,157,749,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Total Clarity Wealth Management Inc. grew its stake in shares of Snowflake by 2.7% in the 3rd quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company's stock valued at $340,000 after purchasing an additional 40 shares during the period. Diligent Investors LLC grew its position in Snowflake by 0.9% during the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company's stock worth $1,036,000 after acquiring an additional 40 shares during the last quarter. Wolff Wiese Magana LLC grew its position in Snowflake by 10.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 549 shares of the company's stock worth $120,000 after acquiring an additional 50 shares during the last quarter. HHM Wealth Advisors LLC grew its position in Snowflake by 50.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company's stock worth $33,000 after acquiring an additional 50 shares during the last quarter. Finally, United Asset Strategies Inc. grew its position in Snowflake by 1.4% during the 4th quarter. United Asset Strategies Inc. now owns 3,544 shares of the company's stock worth $777,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Stock Up 0.2%

Shares of SNOW opened at $240.31 on Friday. The firm has a market capitalization of $83.29 billion, a price-to-earnings ratio of -68.27 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The business's fifty day moving average price is $172.06 and its two-hundred day moving average price is $189.92. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business's quarterly revenue was up 33.5% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. On average, analysts predict that Snowflake Inc. will post -1.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SNOW shares. Guggenheim restated a "neutral" rating on shares of Snowflake in a research report on Wednesday, February 18th. The Goldman Sachs Group increased their price target on Snowflake from $216.00 to $278.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Bank of America increased their price target on Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Piper Sandler increased their price target on Snowflake from $295.00 to $320.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 3rd. Finally, Oppenheimer increased their price target on Snowflake from $250.00 to $295.00 and gave the stock an "outperform" rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $291.77.

Insider Buying and Selling at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $148.21, for a total value of $7,460,594.98. Following the transaction, the director owned 29,396 shares of the company's stock, valued at $4,356,781.16. This represents a 63.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $25,000,000.00. Following the completion of the transaction, the director directly owned 8,801 shares in the company, valued at approximately $2,200,250. This trade represents a 91.91% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,589,550 shares of company stock worth $359,438,410. Insiders own 4.80% of the company's stock.

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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