Vanguard Group Inc. Purchases 857,832 Shares of Snowflake Inc. $SNOW

Vanguard Group Inc. raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,647,593 shares of the company’s stock after purchasing an additional 857,832 shares during the period. Vanguard Group Inc. owned 0.08% of Snowflake worth $6,461,465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Snowflake during the third quarter worth about $25,000. Avion Wealth boosted its position in shares of Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares during the period. Tripletail Wealth Management LLC acquired a new position in Snowflake during the third quarter worth approximately $28,000. Rossby Financial LCC lifted its stake in Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 127 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of Snowflake by 4,333.3% in the third quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock valued at $30,000 after acquiring an additional 130 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the transaction, the senior vice president owned 218,020 shares of the company’s stock, valued at approximately $48,060,328.80. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $230.65, for a total value of $11,610,459.70. Following the completion of the sale, the director owned 32,756 shares of the company’s stock, valued at approximately $7,555,171.40. This trade represents a 60.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 613,681 shares of company stock worth $130,573,518. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Performance

Shares of SNOW opened at $182.37 on Tuesday. The firm has a fifty day moving average of $207.74 and a 200-day moving average of $224.91. The company has a market cap of $62.41 billion, a price-to-earnings ratio of -45.14 and a beta of 1.14. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $0.20 EPS. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Ratings Changes

SNOW has been the subject of several research reports. Barclays reiterated an “equal weight” rating and issued a $250.00 price target (down previously from $290.00) on shares of Snowflake in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Snowflake from $250.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, December 4th. UBS Group reaffirmed a “buy” rating on shares of Snowflake in a research note on Thursday, December 4th. Bank of America lifted their price objective on Snowflake from $280.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Finally, Royal Bank Of Canada set a $245.00 target price on shares of Snowflake in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $274.68.

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.