Makena Capital Management LLC reduced its stake in Snowflake Inc. (NYSE:SNOW – Free Report) by 20.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 544,506 shares of the company’s stock after selling 143,106 shares during the period. Snowflake accounts for about 18.3% of Makena Capital Management LLC’s investment portfolio, making the stock its biggest holding. Makena Capital Management LLC owned about 0.17% of Snowflake worth $95,822,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in Snowflake by 333.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the period. Global Trust Asset Management LLC increased its position in shares of Snowflake by 7,500.0% during the 2nd quarter. Global Trust Asset Management LLC now owns 152 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Snowflake by 822.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock worth $38,000 after buying an additional 148 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Snowflake in the second quarter valued at $840,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in Snowflake by 111.1% during the second quarter. Creative Financial Designs Inc. ADV now owns 190 shares of the company’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. 63.74% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Rosenblatt Securities restated a “neutral” rating and set a $170.00 price objective on shares of Snowflake in a research report on Wednesday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $216.00 price objective on shares of Snowflake in a research report on Tuesday, September 5th. Mizuho reiterated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research report on Tuesday, October 3rd. Capital One Financial upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $195.00 price objective for the company in a report on Wednesday, November 8th. Finally, Wells Fargo & Company boosted their target price on Snowflake from $195.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $189.52.
Snowflake Stock Down 0.3 %
Snowflake stock traded down $0.53 during midday trading on Tuesday, hitting $166.20. 1,014,231 shares of the stock were exchanged, compared to its average volume of 5,344,905. The stock has a market capitalization of $54.80 billion, a PE ratio of -62.73 and a beta of 0.77. The company has a fifty day simple moving average of $154.74 and a two-hundred day simple moving average of $163.47. Snowflake Inc. has a 52 week low of $119.27 and a 52 week high of $193.94.
Snowflake (NYSE:SNOW – Get Free Report) last posted its earnings results on Wednesday, August 23rd. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.12. The firm had revenue of $674.00 million during the quarter, compared to analysts’ expectations of $662.22 million. Snowflake had a negative return on equity of 14.07% and a negative net margin of 35.22%. The company’s revenue was up 35.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.67) earnings per share. As a group, equities research analysts anticipate that Snowflake Inc. will post -1.62 EPS for the current fiscal year.
Insider Transactions at Snowflake
In related news, SVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $164.75, for a total value of $247,125.00. Following the completion of the sale, the senior vice president now directly owns 658,789 shares in the company, valued at approximately $108,535,487.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snowflake news, SVP Grzegorz Czajkowski sold 694 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $166.27, for a total transaction of $115,391.38. Following the sale, the senior vice president now directly owns 54,701 shares in the company, valued at $9,095,135.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $164.75, for a total transaction of $247,125.00. Following the completion of the transaction, the senior vice president now owns 658,789 shares of the company’s stock, valued at $108,535,487.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,446 shares of company stock worth $14,733,361. 8.30% of the stock is owned by insiders.
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.
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