Snowflake Inc. $SNOW Shares Sold by Nicholas Company Inc.

Key Points

• Nicholas Company Inc. reduced its Snowflake stake by 22.1% in the fourth quarter, selling 69,405 shares and ending with 245,189 shares worth about $53.8 million.
• Snowflake reported stronger-than-expected quarterly results, posting EPS of $0.32 versus estimates of $0.27 and revenue of $1.28 billion, up 30.1% year over year.
• Insiders have been selling shares, with CAO Emily Ho and EVP Christian Kleinerman among recent sellers; over the last 90 days, insiders sold 384,313 shares valued at $64.3 million.

Nicholas Company Inc. lessened its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 245,189 shares of the company's stock after selling 69,405 shares during the quarter. Nicholas Company Inc. owned about 0.07% of Snowflake worth $53,785,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in Snowflake by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 732,092 shares of the company's stock valued at $165,123,000 after buying an additional 8,002 shares during the last quarter. Federated Hermes Inc. grew its holdings in Snowflake by 13.5% during the 3rd quarter. Federated Hermes Inc. now owns 408,037 shares of the company's stock valued at $92,047,000 after buying an additional 48,411 shares during the last quarter. Assetmark Inc. grew its holdings in Snowflake by 99.1% during the 4th quarter. Assetmark Inc. now owns 198,655 shares of the company's stock valued at $43,577,000 after buying an additional 98,870 shares during the last quarter. Jennison Associates LLC grew its holdings in Snowflake by 27.7% during the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock valued at $2,545,300,000 after buying an additional 2,519,413 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Snowflake during the 3rd quarter valued at $116,882,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Trading Down 0.1%

NYSE:SNOW opened at $152.24 on Monday. The business's 50-day moving average is $157.00 and its two-hundred day moving average is $200.44. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $280.67. The firm has a market capitalization of $52.63 billion, a PE ratio of -38.54 and a beta of 1.08.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The firm's revenue was up 30.1% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. Research analysts predict that Snowflake Inc. will post -2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNOW. Wells Fargo & Company lowered their target price on Snowflake from $290.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Piper Sandler reduced their price target on Snowflake from $285.00 to $230.00 and set an "overweight" rating on the stock in a research note on Thursday, February 26th. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 price target on shares of Snowflake in a research note on Monday, February 23rd. Evercore set a $200.00 price target on Snowflake in a research note on Tuesday, April 14th. Finally, Royal Bank Of Canada set a $245.00 price target on Snowflake in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $242.19.

Insider Activity at Snowflake

In other news, CAO Emily Ho sold 2,141 shares of the firm's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $173.97, for a total transaction of $372,469.77. Following the completion of the sale, the chief accounting officer directly owned 44,553 shares in the company, valued at $7,750,885.41. This trade represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 2,621 shares of the firm's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $170.01, for a total value of $445,596.21. Following the sale, the executive vice president owned 533,494 shares of the company's stock, valued at $90,699,314.94. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 384,313 shares of company stock valued at $64,308,373. 6.80% of the stock is currently owned by insiders.

Snowflake 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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