Snowflake Inc. $SNOW Shares Purchased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its holdings in Snowflake Inc. by 10.6%, owning over 1 million shares worth approximately $149.6 million as of its latest SEC filing.
• Snowflake's stock has shown strong performance, with a market cap of $75.06 billion and a 52-week trading range between $108.71 and $249.99.
• In a recent quarterly earnings report, Snowflake exceeded earnings expectations, reporting $0.35 EPS against a consensus estimate of $0.27, with a revenue of $1.14 billion.

Voya Investment Management LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 10.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,023,844 shares of the company's stock after purchasing an additional 98,027 shares during the period. Voya Investment Management LLC owned 0.31% of Snowflake worth $149,645,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Inspire Investing LLC boosted its stake in Snowflake by 23.4% during the 1st quarter. Inspire Investing LLC now owns 2,066 shares of the company's stock worth $302,000 after purchasing an additional 392 shares during the period. Strs Ohio acquired a new stake in Snowflake during the 1st quarter worth $10,209,000. SWS Partners lifted its stake in shares of Snowflake by 2.5% in the 1st quarter. SWS Partners now owns 20,683 shares of the company's stock worth $3,023,000 after acquiring an additional 507 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after acquiring an additional 73 shares during the period. Finally, IFM Investors Pty Ltd lifted its stake in shares of Snowflake by 0.5% in the 1st quarter. IFM Investors Pty Ltd now owns 54,020 shares of the company's stock worth $7,896,000 after acquiring an additional 274 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Stock Performance

Shares of SNOW opened at $224.82 on Friday. The company has a 50-day simple moving average of $212.83 and a 200-day simple moving average of $188.54. The company has a quick ratio of 1.58, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $75.06 billion, a PE ratio of -54.17 and a beta of 1.22. Snowflake Inc. has a 52-week low of $108.71 and a 52-week high of $249.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business's revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 EPS. Equities research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the transaction, the director directly owned 165,507 shares in the company, valued at approximately $38,144,398.29. This trade represents a 81.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 3,224,389 shares of company stock worth $719,812,350. Company insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Macquarie raised their target price on shares of Snowflake from $210.00 to $235.00 and gave the stock a "neutral" rating in a research note on Thursday, August 28th. Guggenheim restated a "neutral" rating on shares of Snowflake in a research note on Thursday, August 28th. Loop Capital raised their target price on shares of Snowflake from $220.00 to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Stephens assumed coverage on shares of Snowflake in a research note on Friday, July 18th. They issued an "overweight" rating and a $261.00 target price for the company. Finally, Cowen restated a "buy" rating on shares of Snowflake in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $255.53.

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.

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