Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Makes New $5.88 Million Investment in Snowflake Inc. $SNOW

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in Snowflake Inc. (NYSE:SNOW) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,000 shares of the company’s stock, valued at approximately $5,882,000. Snowflake makes up 2.2% of Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s investment portfolio, making the stock its 18th biggest holding.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC increased its stake in Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after buying an additional 29,320 shares during the period. Intech Investment Management LLC raised its position in shares of Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after buying an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after acquiring an additional 73 shares during the period. Flow Traders U.S. LLC acquired a new stake in shares of Snowflake in the 2nd quarter worth approximately $221,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Snowflake by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock valued at $5,055,000 after acquiring an additional 1,521 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNOW has been the topic of a number of research analyst reports. Mizuho raised their price objective on shares of Snowflake from $220.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Canaccord Genuity Group upped their target price on Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. UBS Group reaffirmed a “buy” rating on shares of Snowflake in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Snowflake from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Needham & Company LLC boosted their price objective on Snowflake from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.53.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 437,076 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the completion of the sale, the director owned 38,046 shares in the company, valued at approximately $9,603,951.78. This represents a 91.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction on Friday, May 1st. The stock was sold at an average price of $141.60, for a total value of $7,127,860.80. Following the completion of the transaction, the director owned 28,556 shares in the company, valued at $4,043,529.60. The trade was a 63.80% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 1,802,015 shares of company stock valued at $421,739,629. Corporate insiders own 4.80% of the company’s stock.

Snowflake Stock Up 2.8%

NYSE SNOW opened at $276.21 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50 day simple moving average is $220.12 and its 200 day simple moving average is $192.44. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The company has a market capitalization of $95.73 billion, a P/E ratio of -78.47 and a beta of 1.35.

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