DSM Capital Partners LLC Acquires New Holdings in Snowflake Inc. (NYSE:SNOW)

DSM Capital Partners LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 304 shares of the company’s stock, valued at approximately $60,000.

Several other hedge funds also recently bought and sold shares of SNOW. Provence Wealth Management Group purchased a new position in Snowflake during the third quarter valued at approximately $30,000. Global Wealth Management Investment Advisory Inc. lifted its position in Snowflake by 89.0% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. M&R Capital Management Inc. lifted its position in Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after purchasing an additional 100 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in Snowflake by 154.8% during the third quarter. Valley National Advisers Inc. now owns 293 shares of the company’s stock valued at $45,000 after purchasing an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the subject of several research analyst reports. Robert W. Baird dropped their target price on shares of Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday. Royal Bank of Canada dropped their target price on shares of Snowflake from $246.00 to $220.00 and set an “outperform” rating for the company in a research report on Monday, May 20th. Monness Crespi & Hardt upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Citigroup lowered their price objective on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 4th. Finally, Bank of America lowered their price objective on shares of Snowflake from $212.00 to $200.00 and set a “neutral” rating for the company in a report on Wednesday, May 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.64.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now owns 772,597 shares in the company, valued at approximately $124,504,006.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Sridhar Ramaswamy purchased 31,542 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the purchase, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total transaction of $241,725.00. Following the completion of the transaction, the executive vice president now owns 772,597 shares in the company, valued at approximately $124,504,006.55. The disclosure for this sale can be found here. Insiders have sold 62,380 shares of company stock valued at $9,803,625 in the last three months. 8.30% of the stock is currently owned by company insiders.

Snowflake Stock Up 1.0 %

Shares of NYSE:SNOW traded up $1.58 during midday trading on Friday, reaching $156.16. The company’s stock had a trading volume of 6,026,313 shares, compared to its average volume of 4,735,169. The firm has a 50 day moving average of $157.03 and a 200-day moving average of $180.31. The firm has a market capitalization of $52.19 billion, a P/E ratio of -55.77 and a beta of 0.90. Snowflake Inc. has a 12-month low of $138.40 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. On average, research analysts predict that Snowflake Inc. will post -1.83 EPS for the current year.

Snowflake Profile

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.