Themes Management Co LLC Increases Stock Holdings in Snowflake Inc. $SNOW

Themes Management Co LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 171.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,715 shares of the company’s stock after purchasing an additional 4,878 shares during the period. Themes Management Co LLC’s holdings in Snowflake were worth $1,164,000 at the end of the most recent quarter.

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

Snowflake Stock Up 1.1%

NYSE:SNOW 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 stock’s fifty day moving average is $239.11 and its two-hundred day moving average is $195.38. The stock has a market capitalization of $92.94 billion, a price-to-earnings ratio of -76.18 and a beta of 1.35. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $1.39 billion during 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 company’s revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. Research analysts anticipate that Snowflake Inc. will post -1.84 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of Snowflake stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the completion of the transaction, the director directly owned 8,801 shares of the company’s stock, valued at $2,200,250. The trade was a 91.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $141.60, for a total transaction of $7,127,860.80. Following the sale, the director owned 28,556 shares in the company, valued at $4,043,529.60. This trade represents a 63.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 in the last three months. 4.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on SNOW. Jefferies Financial Group lifted their target price on Snowflake from $300.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Bank of America increased their price target on Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Piper Sandler raised their price objective on Snowflake from $295.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Oppenheimer boosted their price objective on shares of Snowflake from $250.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Finally, DA Davidson upped their target price on shares of Snowflake from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Thirty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.