Snowflake Inc. (NYSE:SNOW) Shares Purchased by Banco Santander S.A.

Banco Santander S.A. increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 42.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,365 shares of the company’s stock after buying an additional 2,182 shares during the period. Banco Santander S.A.’s holdings in Snowflake were worth $995,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. GAMMA Investing LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at approximately $80,000. Yousif Capital Management LLC boosted its position in Snowflake by 4.6% during the fourth quarter. Yousif Capital Management LLC now owns 3,110 shares of the company’s stock worth $619,000 after acquiring an additional 138 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Snowflake by 39.0% in the fourth quarter. Russell Investments Group Ltd. now owns 191,606 shares of the company’s stock valued at $38,152,000 after purchasing an additional 53,722 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Snowflake in the 4th quarter worth $278,000. Finally, Certuity LLC acquired a new position in Snowflake in the 4th quarter valued at about $295,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other Snowflake news, Director Teresa Briggs sold 848 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the sale, the director now directly owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the transaction, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the transaction, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 527,678 shares of company stock worth $65,491,235. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Performance

SNOW stock traded down $0.81 during trading on Friday, hitting $113.33. The stock had a trading volume of 1,393,710 shares, compared to its average volume of 6,681,796. The stock has a market cap of $37.94 billion, a price-to-earnings ratio of -40.52 and a beta of 0.85. The company’s 50 day moving average price is $128.67 and its two-hundred day moving average price is $151.64. Snowflake Inc. has a 1-year low of $107.93 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same period in the previous year, the firm posted ($0.52) EPS. Snowflake’s revenue was up 28.9% on a year-over-year basis. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SNOW. JMP Securities reduced their price target on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 22nd. The Goldman Sachs Group restated a “buy” rating and set a $220.00 price target on shares of Snowflake in a research note on Monday, July 1st. Citigroup dropped their target price on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Stifel Nicolaus lowered their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. boosted their target price on Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $176.03.

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.