Snowflake Inc. $SNOW Shares Newly Acquired by Formuepleje A S

Formuepleje A S purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,712 shares of the company’s stock, valued at approximately $581,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of Snowflake by 22.2% during the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock worth $452,014,000 after purchasing an additional 544,960 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Snowflake by 44.7% in the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock worth $392,259,000 after acquiring an additional 803,110 shares in the last quarter. Swedbank AB raised its position in shares of Snowflake by 24.0% during the first quarter. Swedbank AB now owns 1,649,771 shares of the company’s stock worth $248,818,000 after purchasing an additional 319,356 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in shares of Snowflake during the fourth quarter worth about $345,619,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Snowflake by 76.9% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company’s stock valued at $176,736,000 after purchasing an additional 509,230 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on SNOW shares. Scotiabank restated a “sector outperform” rating and set a $440.00 target price (up from $320.00) on shares of Snowflake in a report on Thursday, September 3rd. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Thursday, September 3rd. Bank of America raised their price objective on shares of Snowflake from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $450.00 price objective (up from $320.00) on shares of Snowflake in a research report on Thursday, September 3rd. Finally, Robert W. Baird set a $450.00 target price on shares of Snowflake in a research note on Thursday, September 3rd. Thirty-five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $414.24.

Snowflake Stock Down 1.7%

Shares of Snowflake stock traded down $5.66 during trading hours on Thursday, reaching $329.42. 3,616,309 shares of the company’s stock were exchanged, compared to its average volume of 6,479,760. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The company has a 50 day moving average of $333.37 and a two-hundred day moving average of $253.25. The stock has a market cap of $116.22 billion, a P/E ratio of -103.59 and a beta of 1.35. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $384.56.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.17. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. Snowflake’s revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, sell-side analysts forecast that Snowflake Inc. will post -1.44 EPS for the current fiscal year.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 102,791 shares of the stock in a transaction on Monday, September 21st. The shares were sold at an average price of $335.22, for a total value of $34,457,599.02. Following the completion of the sale, the director owned 19,024 shares in the company, valued at $6,377,225.28. This trade represents a 84.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $341.57, for a total transaction of $5,123,550.00. Following the transaction, the executive vice president owned 313,738 shares in the company, valued at $107,163,488.66. This represents a 4.56% 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. In the last three months, insiders sold 1,246,429 shares of company stock valued at $396,227,952. 4.80% of the stock is owned by corporate insiders.

Snowflake Company Profile

Snowflake Inc (NYSE: SNOW) provides a cloud-based data platform that enables organizations to store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and artificial intelligence workloads in a single environment.

Snowflake’s services include cloud data storage and computing, data sharing and collaboration tools, governance and security capabilities, and access to third-party data through the Snowflake Marketplace.