Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stake in Snowflake Inc. $SNOW

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Snowflake Inc. (NYSE:SNOW) by 43.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,800 shares of the company’s stock after purchasing an additional 29,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Snowflake were worth $14,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in shares of Snowflake during the 4th quarter valued at $28,000. Greenline Wealth Management LLC purchased a new stake in Snowflake in the 4th quarter worth $29,000. GoalVest Advisory LLC increased its stake in Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after buying an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. increased its stake in Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after buying an additional 51 shares in the last quarter. Finally, MV Capital Management Inc. bought a new stake in Snowflake during the fourth quarter valued at about $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Emily Ho sold 1,860 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $232.25, for a total transaction of $431,985.00. Following the completion of the transaction, the chief accounting officer directly owned 41,283 shares of the company’s stock, valued at approximately $9,587,976.75. This represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Jonathan Mead Beaulier sold 9,367 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $231.98, for a total value of $2,172,956.66. Following the transaction, the executive owned 234,791 shares of the company’s stock, valued at $54,466,816.18. This represents a 3.84% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,798,828 shares of company stock valued at $415,351,838 in the last ninety days. Company insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SNOW shares. BTIG Research boosted their price objective on Snowflake from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Oppenheimer increased their target price on Snowflake from $250.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Citigroup lifted their target price on Snowflake from $260.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Mizuho boosted their price target on Snowflake from $220.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Finally, The Goldman Sachs Group boosted their price target on Snowflake from $216.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $293.53.

Snowflake Stock Down 0.2%

Shares of SNOW stock opened at $259.67 on Friday. The stock has a market cap of $90.00 billion, a P/E ratio of -73.77 and a beta of 1.35. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. 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’s fifty day simple moving average is $202.78 and its two-hundred day simple moving average is $190.46.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data 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. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. Analysts predict that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

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.