Snowflake Inc. (NYSE:SNOW) Position Raised by Vident Advisory LLC

Vident Advisory LLC boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 56.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,130 shares of the company's stock after acquiring an additional 2,580 shares during the period. Vident Advisory LLC's holdings in Snowflake were worth $1,101,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC increased its holdings in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. Norges Bank acquired a new position in Snowflake during the fourth quarter worth $988,950,000. FMR LLC grew its holdings in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after buying an additional 2,805,425 shares in the last quarter. GQG Partners LLC acquired a new stake in shares of Snowflake in the 4th quarter worth $750,572,000. Finally, Geode Capital Management LLC raised its holdings in shares of Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock worth $642,742,000 after acquiring an additional 15,314 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the transaction, the executive vice president now owns 594,975 shares in the company, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 356,963 shares of company stock worth $58,204,058. Insiders own 7.80% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on SNOW. BTIG Research restated a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Piper Sandler restated an "overweight" rating and set a $215.00 price target (up previously from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Truist Financial lifted their price target on shares of Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald increased their price objective on Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Finally, Scotiabank restated an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $217.33.

Snowflake Stock Performance

NYSE:SNOW traded up $6.14 during midday trading on Tuesday, reaching $206.19. 9,630,610 shares of the company traded hands, compared to its average volume of 6,486,774. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $208.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a fifty day moving average price of $160.09 and a 200 day moving average price of $164.69. The firm has a market capitalization of $68.06 billion, a price-to-earnings ratio of -60.82 and a beta of 1.11.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $0.14 earnings per share. The company's quarterly revenue was up 25.8% on a year-over-year basis. On average, analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.