Black Swift Group LLC Decreases Stock Holdings in Snowflake Inc. $SNOW

Black Swift Group LLC lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 79.5% during the second quarter, Holdings Channel reports. The institutional investor owned 4,125 shares of the company’s stock after selling 15,990 shares during the period. Black Swift Group LLC’s holdings in Snowflake were worth $923,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Kingstone Capital Partners Texas LLC acquired a new position in Snowflake during the second quarter worth about $3,900,134,000. Nuveen LLC acquired a new position in Snowflake during the first quarter worth about $555,847,000. AQR Capital Management LLC raised its position in Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after acquiring an additional 2,460,769 shares during the last quarter. Jennison Associates LLC raised its position in Snowflake by 20.5% during the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after acquiring an additional 1,363,389 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after acquiring an additional 763,673 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the subject of a number of research reports. Truist Financial lifted their target price on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. lifted their target price on shares of Snowflake from $225.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. UBS Group boosted their price objective on shares of Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Snowflake in a research report on Wednesday, October 8th. Finally, Robert W. Baird boosted their price objective on shares of Snowflake from $215.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.95.

Snowflake Price Performance

SNOW opened at $264.93 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 52-week low of $118.80 and a 52-week high of $280.67. The company has a 50 day moving average of $239.59 and a two-hundred day moving average of $213.31. The company has a market cap of $89.76 billion, a P/E ratio of -63.84 and a beta of 1.23.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm earned $0.18 earnings per share. Snowflake’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 2,976 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $236.01, for a total transaction of $702,365.76. Following the completion of the sale, the director directly owned 34,436 shares in the company, valued at $8,127,240.36. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the sale, the executive vice president owned 522,450 shares of the company’s stock, valued at approximately $145,100,038.50. This represents a 1.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 880,647 shares of company stock valued at $203,522,973 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Snowflake Company 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.