Unisphere Establishment Takes Position in Snowflake Inc. $SNOW

Unisphere Establishment purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,600 shares of the company’s stock, valued at approximately $3,710,000.

Several other large investors also recently added to or reduced their stakes in SNOW. Norges Bank purchased a new stake in Snowflake during the fourth quarter valued at about $974,091,000. Jennison Associates LLC increased its stake in shares of Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after purchasing an additional 2,519,413 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of Snowflake in the fourth quarter valued at approximately $345,619,000. Vanguard Group Inc. raised its position in shares of Snowflake by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after purchasing an additional 1,448,094 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Snowflake by 445.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,490,569 shares of the company’s stock valued at $326,971,000 after purchasing an additional 1,217,350 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 99,900 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $251.73, for a total value of $25,147,827.00. Following the completion of the transaction, the director owned 28,535 shares of the company’s stock, valued at $7,183,115.55. The trade was a 77.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $258.56, for a total transaction of $646,400.00. Following the completion of the transaction, the executive vice president directly owned 397,879 shares of the company’s stock, valued at approximately $102,875,594.24. This represents a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,802,015 shares of company stock valued at $421,739,629 over the last three months. Corporate insiders own 4.80% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $268.15 on Friday. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. The business has a 50-day simple moving average of $239.11 and a 200 day simple moving average of $195.38. 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 stock has a market cap of $92.94 billion, a price-to-earnings ratio of -76.18 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company earned $0.24 EPS. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, research analysts forecast that Snowflake Inc. will post -1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on SNOW shares. Rosenblatt Securities raised their price objective on shares of Snowflake from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft increased their target price on Snowflake from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Cantor Fitzgerald lifted their price target on Snowflake from $225.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Loop Capital increased their price objective on Snowflake from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Finally, Scotiabank lifted their target price on Snowflake from $285.00 to $320.00 and gave the company a “sector outperform” rating in a report on Monday, June 8th. Thirty-four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $296.27.

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.