Snowflake Inc. $SNOW Stake Lessened by Polar Capital Holdings Plc

Polar Capital Holdings Plc decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 573,823 shares of the company’s stock after selling 105,005 shares during the quarter. Polar Capital Holdings Plc owned 0.17% of Snowflake worth $125,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SNOW. Norges Bank acquired a new stake in Snowflake during the 4th quarter worth about $974,091,000. Jennison Associates LLC increased its holdings in shares of Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after purchasing an additional 2,519,413 shares during the period. Coatue Management LLC purchased a new stake in shares of Snowflake in the third quarter worth approximately $441,277,000. American Century Companies Inc. lifted its position in shares of Snowflake by 233.3% in the third quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock worth $474,766,000 after purchasing an additional 1,473,354 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Snowflake by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock worth $6,601,790,000 after purchasing an additional 1,448,094 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the transaction, the director owned 29,396 shares of the company’s stock, valued at approximately $4,356,781.16. This represents a 63.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 437,076 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the completion of the transaction, the director directly owned 38,046 shares in the company, valued at $9,603,951.78. The trade was a 91.99% 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 have sold a total of 1,489,989 shares of company stock worth $341,929,050 over the last three months. Corporate insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SNOW shares. Zacks Research raised shares of Snowflake from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Monness Crespi & Hardt lifted their target price on shares of Snowflake from $282.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Sanford C. Bernstein boosted their price target on shares of Snowflake from $195.00 to $250.00 and gave the company a “market perform” rating in a report on Thursday, May 28th. Mizuho upped their price target on shares of Snowflake from $220.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Finally, Wedbush increased their price objective on Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target of $291.77.

Snowflake Stock Performance

SNOW stock opened at $239.11 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $82.87 billion, a price-to-earnings ratio of -67.93 and a beta of 1.35. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The firm has a 50 day moving average of $177.16 and a two-hundred day moving average of $189.71.

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

Snowflake 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.