Triglav Skladi D.O.O. Invests $658,000 in Snowflake Inc. (NYSE:SNOW)

Key Points

• Triglav Skladi D.O.O. acquired a new stake in Snowflake Inc., buying 4,500 shares valued at approximately $658,000 during the first quarter of the year.
• Over 65% of Snowflake's stock is owned by institutional investors, with significant stakes being acquired by firms like Nuveen LLC and Price T Rowe Associates Inc.
• Snowflake's stock received mixed analyst ratings, including an "outperform" rating from Raymond James and a consensus price target of $226.73, indicative of strong market optimism.

Triglav Skladi D.O.O. purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,500 shares of the company's stock, valued at approximately $658,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNOW. Nuveen LLC purchased a new stake in shares of Snowflake during the 1st quarter worth approximately $555,847,000. Price T Rowe Associates Inc. MD raised its holdings in Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after buying an additional 2,200,406 shares during the period. Goldman Sachs Group Inc. raised its holdings in Snowflake by 22.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after buying an additional 650,775 shares during the period. Invesco Ltd. lifted its position in Snowflake by 26.5% in the first quarter. Invesco Ltd. now owns 3,088,288 shares of the company's stock worth $451,384,000 after buying an additional 647,176 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in Snowflake by 157.0% during the fourth quarter. Voya Investment Management LLC now owns 925,817 shares of the company's stock worth $142,955,000 after buying an additional 565,561 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Down 0.9%

SNOW stock traded down $1.85 during trading on Thursday, reaching $195.02. 2,785,481 shares of the company traded hands, compared to its average volume of 4,005,035. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $229.27. The business has a 50 day simple moving average of $212.74 and a 200 day simple moving average of $184.44. The company has a market capitalization of $65.11 billion, a price-to-earnings ratio of -46.32 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned $0.14 earnings per share. The firm's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $84,102.07. Following the completion of the sale, the director directly owned 26,136 shares in the company, valued at approximately $5,454,321.84. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 256,046 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $227.15, for a total value of $58,160,848.90. Following the completion of the sale, the director owned 165,507 shares of the company's stock, valued at approximately $37,594,915.05. This trade represents a 60.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,014,642 shares of company stock valued at $657,325,186. 6.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup reissued an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. BTIG Research reiterated a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Wells Fargo & Company reiterated an "overweight" rating and issued a $250.00 target price (up previously from $225.00) on shares of Snowflake in a research note on Friday, June 13th. JPMorgan Chase & Co. increased their target price on Snowflake from $210.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Finally, Mizuho increased their target price on Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus target price of $226.32.

About Snowflake

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.