Sienna Gestion Invests $1.33 Million in Snowflake Inc. $SNOW

Sienna Gestion purchased a new position in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 6,000 shares of the company’s stock, valued at approximately $1,326,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. raised its holdings in shares of 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 during the period. Jennison Associates LLC raised its holdings 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 buying an additional 2,519,413 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Snowflake in the third quarter worth approximately $116,882,000. Swedbank AB grew 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 purchasing an additional 75,419 shares in the last quarter. Finally, Vanguard Group Inc. grew 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 purchasing an additional 857,832 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Up 3.4%

Shares of NYSE SNOW opened at $240.61 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $83.40 billion, a PE ratio of -68.35 and a beta of 1.35. The stock’s fifty day simple moving average is $175.41 and its two-hundred day simple moving average is $189.78. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $284.99.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. As a group, analysts expect that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on SNOW shares. BTIG Research increased their price objective on Snowflake from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. DA Davidson increased their price objective on Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wells Fargo & Company increased their price objective on Snowflake from $210.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Oppenheimer increased their price objective on Snowflake from $250.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Finally, Bank of America increased their price objective on Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a research note 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $291.77.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $245.21, for a total transaction of $98,819.63. Following the sale, the director owned 22,106 shares of the company’s stock, valued at approximately $5,420,612.26. This trade represents a 1.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 162,924 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $263.70, for a total value of $42,963,058.80. Following the sale, the director directly owned 38,046 shares in the company, valued at $10,032,730.20. This trade represents a 81.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,578,690 shares of company stock worth $357,534,217 over the last quarter. Insiders own 4.80% of the company’s stock.

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.