Sargent Investment Group LLC Takes Position in Snowflake Inc. $SNOW

Sargent Investment Group LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,862 shares of the company’s stock, valued at approximately $1,067,000.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. raised its stake in Snowflake by 99.1% in the fourth quarter. Assetmark Inc. now owns 198,655 shares of the company’s stock worth $43,577,000 after buying an additional 98,870 shares in the last quarter. Jennison Associates LLC raised its stake in 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 buying an additional 2,519,413 shares in the last quarter. William Blair Investment Management LLC bought a new position in Snowflake in the third quarter worth approximately $116,882,000. Swedbank AB raised its stake in Snowflake by 6.0% in the fourth quarter. Swedbank AB now owns 1,330,415 shares of the company’s stock worth $291,840,000 after buying an additional 75,419 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Snowflake by 3.1% in the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock worth $6,461,465,000 after buying an additional 857,832 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNOW. Weiss Ratings downgraded shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Sanford C. Bernstein lifted their price target on shares of Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, May 28th. Rosenblatt Securities lifted their price target on shares of Snowflake from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Canaccord Genuity Group lifted their price target on shares of Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Monness Crespi & Hardt lifted their price target on shares of Snowflake from $282.00 to $320.00 and gave the stock a “buy” 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $291.77.

Snowflake Price Performance

NYSE SNOW opened at $232.38 on Monday. The firm’s fifty day simple moving average is $173.64 and its two-hundred day simple moving average is $189.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $284.99. The firm has a market capitalization of $80.54 billion, a P/E ratio of -66.02 and a beta of 1.35.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.32 billion. During the same period in the previous year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. Analysts forecast that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 2,729 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $239.00, for a total transaction of $652,231.00. Following the sale, the executive vice president directly owned 413,002 shares of the company’s stock, valued at $98,707,478. The trade was a 0.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $245.21, for a total transaction of $98,819.63. Following the sale, the director directly owned 22,106 shares in the company, valued at $5,420,612.26. This trade represents a 1.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,589,550 shares of company stock valued at $359,438,410 over the last three months. 4.80% of the stock is owned by corporate insiders.

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.