Gladstone Capital Management LLP Buys 162,054 Shares of Snowflake Inc. $SNOW

Gladstone Capital Management LLP raised its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2,332.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 169,002 shares of the company’s stock after buying an additional 162,054 shares during the period. Snowflake comprises about 3.9% of Gladstone Capital Management LLP’s portfolio, making the stock its 10th largest holding. Gladstone Capital Management LLP’s holdings in Snowflake were worth $37,072,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SNOW. Brighton Jones LLC boosted its stake in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares during the last quarter. Intech Investment Management LLC raised its position in Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after acquiring an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Snowflake by 29.7% in the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after acquiring an additional 73 shares during the period. Flow Traders U.S. LLC purchased a new stake in Snowflake in the 2nd quarter worth approximately $221,000. Finally, The Manufacturers Life Insurance Company boosted its position in Snowflake by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock worth $5,055,000 after purchasing an additional 1,521 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Down 0.7%

Shares of NYSE:SNOW opened at $239.11 on Wednesday. The business’s 50 day moving average price is $177.16 and its 200-day moving average price is $189.71. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The firm has a market capitalization of $82.87 billion, a price-to-earnings ratio of -67.93 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm’s revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, equities research analysts forecast that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SNOW shares. Canaccord Genuity Group lifted their target price on shares of Snowflake from $240.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, May 28th. BTIG Research increased their price target on shares of Snowflake from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. HSBC set a $289.00 price target on shares of Snowflake and gave the company a “buy” rating in a research report on Friday, May 29th. Cantor Fitzgerald upped their price objective on shares of Snowflake from $225.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Scotiabank increased their target price on shares of Snowflake from $285.00 to $320.00 and gave the stock a “sector outperform” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $291.77.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $245.21, for a total value of $98,819.63. Following the sale, the director directly owned 22,106 shares in the company, valued at approximately $5,420,612.26. The trade was a 1.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 162,924 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $263.70, for a total value of $42,963,058.80. Following the sale, the director owned 38,046 shares of the company’s stock, valued at approximately $10,032,730.20. This trade represents a 81.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,489,989 shares of company stock worth $341,929,050 over the last three months. Company insiders own 4.80% of the company’s stock.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.