Guardian Partners Inc. Has $575,000 Stock Position in Snowflake Inc. $SNOW

Guardian Partners Inc. lowered its position in Snowflake Inc. (NYSE:SNOW) by 58.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,801 shares of the company’s stock after selling 5,299 shares during the period. Guardian Partners Inc.’s holdings in Snowflake were worth $575,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Snowflake during the fourth quarter worth approximately $974,091,000. Jennison Associates LLC grew its position in Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after purchasing an additional 2,519,413 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in Snowflake in the 4th quarter valued at $345,619,000. Vanguard Group Inc. increased its stake in Snowflake by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after purchasing an additional 1,448,094 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Snowflake by 445.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,490,569 shares of the company’s stock valued at $326,971,000 after purchasing an additional 1,217,350 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SNOW. Weiss Ratings lowered shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Cantor Fitzgerald upped their target price on shares of Snowflake from $225.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Bank of America raised their price target on shares of Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Morgan Stanley lifted their price target on Snowflake from $245.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, Stifel Nicolaus boosted their price objective on Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Thirty-four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $296.27.

Insiders Place Their Bets

In related news, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly owned 28,556 shares of the company’s stock, valued at approximately $4,043,529.60. This trade represents a 63.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 437,076 shares of Snowflake stock in a transaction on Friday, May 29th. The stock was sold at an average price of $252.43, for a total value of $110,331,094.68. Following the sale, the director owned 38,046 shares in the company, valued at $9,603,951.78. This trade represents a 91.99% 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. Insiders have sold a total of 2,102,015 shares of company stock valued at $504,063,952 in the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Performance

NYSE SNOW opened at $269.83 on Wednesday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. 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 firm has a market cap of $93.52 billion, a price-to-earnings ratio of -76.66 and a beta of 1.35. The company has a fifty day moving average price of $243.29 and a 200-day moving average price of $195.70.

Snowflake (NYSE:SNOW) last released its quarterly earnings results 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. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $0.24 earnings per share. The firm’s revenue was up 33.5% on a year-over-year basis. As a group, equities research analysts predict that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

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.