Snowflake Inc. $SNOW Stock Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Snowflake stake by 307.8% in the third quarter, adding 605,116 shares and ending the period with 801,738 shares valued at about $272.2 million. Institutional investors collectively own 65.1% of the stock.
• Company insiders sold 1.19 million shares worth approximately $387.7 million in the last quarter. Director Frank Slootman sold 300,000 shares under a pre-arranged trading plan.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $413.87. Snowflake’s latest reported quarterly earnings and revenue both beat consensus estimates, while revenue grew 35.1% year over year.

Aberdeen Group plc raised its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 307.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 801,738 shares of the company's stock after purchasing an additional 605,116 shares during the quarter. Aberdeen Group plc owned 0.23% of Snowflake worth $272,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SNOW. Private Advisory Group LLC raised its holdings in Snowflake by 666.6% in the third quarter. Private Advisory Group LLC now owns 8,486 shares of the company's stock worth $2,882,000 after purchasing an additional 7,379 shares in the last quarter. Legacy Trust increased its position in shares of Snowflake by 15.8% in the 3rd quarter. Legacy Trust now owns 12,934 shares of the company's stock valued at $4,392,000 after acquiring an additional 1,765 shares during the period. Eurizon Capital SGR S.p.A. increased its position in shares of Snowflake by 98.6% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 319,666 shares of the company's stock valued at $108,020,000 after acquiring an additional 158,733 shares during the period. Nikulski Financial Inc. increased its position in shares of Snowflake by 3.7% in the 3rd quarter. Nikulski Financial Inc. now owns 4,579 shares of the company's stock valued at $1,555,000 after acquiring an additional 165 shares during the period. Finally, R Squared Ltd purchased a new stake in Snowflake during the 3rd quarter valued at about $482,000. 65.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CRO Jonathan Beaulier sold 755 shares of the business's stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $336.36, for a total transaction of $253,951.80. Following the completion of the transaction, the executive owned 211,619 shares in the company, valued at approximately $71,180,166.84. The trade was a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 300,000 shares of the firm's stock in a transaction on Monday, October 19th. The shares were sold at an average price of $316.43, for a total value of $94,929,000.00. Following the completion of the sale, the director owned 19,024 shares in the company, valued at approximately $6,019,764.32. This represents a 94.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,186,443 shares of company stock worth $387,734,752 in the last quarter. Company insiders own 4.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNOW. Jefferies Financial Group set a $430.00 price objective on Snowflake and gave the stock a "buy" rating in a research note on Thursday, September 3rd. DA Davidson increased their price target on shares of Snowflake from $300.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Robert W. Baird set a $450.00 price target on shares of Snowflake in a report on Thursday, September 3rd. Guggenheim restated a "neutral" rating on shares of Snowflake in a research note on Thursday, September 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $450.00 target price on shares of Snowflake in a report on Monday, October 12th. Thirty-six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $413.87.

Snowflake Trading Down 2.7%

NYSE SNOW opened at $290.61 on Friday. The firm's 50-day moving average is $324.69 and its two-hundred day moving average is $243.79. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $384.56. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $102.53 billion, a P/E ratio of -91.39 and a beta of 1.32.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.17. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. Snowflake's revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 earnings per share. On average, sell-side analysts anticipate that Snowflake Inc. will post -1.42 earnings per share for the current year.

Snowflake Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake's platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.

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