Jupiter Asset Management Ltd. Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Jupiter Asset Management Ltd. bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,392 shares of the company’s stock, valued at approximately $1,932,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Evanson Asset Management LLC lifted its holdings in Snowflake by 2.1% during the 3rd quarter. Evanson Asset Management LLC now owns 1,616 shares of the company’s stock worth $397,000 after buying an additional 34 shares in the last quarter. Covington Capital Management lifted its holdings in Snowflake by 9.6% during the 2nd quarter. Covington Capital Management now owns 400 shares of the company’s stock worth $97,000 after buying an additional 35 shares in the last quarter. ACG Wealth increased its position in shares of Snowflake by 3.1% in the 3rd quarter. ACG Wealth now owns 1,172 shares of the company’s stock valued at $354,000 after purchasing an additional 35 shares during the last quarter. Moseley Investment Management Inc. increased its position in shares of Snowflake by 3.1% in the 3rd quarter. Moseley Investment Management Inc. now owns 1,283 shares of the company’s stock valued at $390,000 after purchasing an additional 39 shares during the last quarter. Finally, Sigma Planning Corp increased its position in shares of Snowflake by 2.8% in the 3rd quarter. Sigma Planning Corp now owns 1,614 shares of the company’s stock valued at $488,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 66.93% of the company’s stock.

SNOW stock opened at $289.59 on Friday. Snowflake Inc. has a one year low of $184.71 and a one year high of $405.00. The stock has a market capitalization of $88.70 billion, a PE ratio of -113.56 and a beta of 1.52. The company has a fifty day moving average of $347.27 and a 200-day moving average of $314.42.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, December 1st. The company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.10. Snowflake had a negative net margin of 72.78% and a negative return on equity of 14.91%. The company had revenue of $334.44 million during the quarter, compared to analysts’ expectations of $306.13 million. During the same quarter last year, the business earned ($1.00) EPS. The business’s revenue was up 109.5% on a year-over-year basis. Equities research analysts forecast that Snowflake Inc. will post -2.04 earnings per share for the current year.

In related news, Director Teresa Briggs sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 20th. The shares were sold at an average price of $332.69, for a total value of $998,070.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank Slootman sold 63,093 shares of the firm’s stock in a transaction dated Wednesday, October 20th. The shares were sold at an average price of $335.46, for a total transaction of $21,165,177.78. The disclosure for this sale can be found here. Insiders sold a total of 2,152,392 shares of company stock valued at $749,422,907 in the last 90 days. Company insiders own 11.30% of the company’s stock.

A number of brokerages have commented on SNOW. Oppenheimer increased their price objective on shares of Snowflake from $360.00 to $400.00 and gave the company an “outperform” rating in a research report on Thursday, December 2nd. Morgan Stanley increased their price objective on shares of Snowflake from $295.00 to $344.00 and gave the company an “equal weight” rating in a research report on Friday, December 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Snowflake from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, December 2nd. Credit Suisse Group increased their price objective on shares of Snowflake from $455.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, December 6th. Finally, Rosenblatt Securities increased their target price on shares of Snowflake from $370.00 to $380.00 and gave the company a “neutral” rating in a research report on Friday, December 3rd. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $365.03.

Snowflake Company Profile

Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, an ecosystem that enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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