Keystone Investors PTE Ltd. Purchases 19,236 Shares of Snowflake Inc. $SNOW

Keystone Investors PTE Ltd. grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 85.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,871 shares of the company’s stock after purchasing an additional 19,236 shares during the period. Keystone Investors PTE Ltd.’s holdings in Snowflake were worth $9,185,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC lifted its stake in Snowflake by 221.4% during the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. lifted its stake in Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after purchasing an additional 51 shares during the last quarter. HHM Wealth Advisors LLC lifted its stake in Snowflake by 50.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 50 shares during the last quarter. Ameriflex Group Inc. lifted its stake in Snowflake by 252.2% during the third quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock worth $37,000 after purchasing an additional 116 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new stake in Snowflake during the third quarter worth about $39,000. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the transaction, the director owned 29,396 shares in the company, valued at approximately $4,356,781.16. This represents a 63.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 437,076 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 38,046 shares in the company, valued at $9,603,951.78. This trade represents a 91.99% decrease in their position. 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. In the last quarter, insiders have sold 1,589,550 shares of company stock worth $359,438,410. Company insiders own 4.80% of the company’s stock.

Snowflake Stock Down 3.3%

SNOW stock opened at $232.38 on Friday. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The business’s 50 day moving average price is $173.64 and its two-hundred day moving average price is $190.21. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $80.54 billion, a price-to-earnings ratio of -66.02 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $0.24 EPS. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, analysts forecast that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several research analyst reports. Cantor Fitzgerald lifted their price target on Snowflake from $225.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Scotiabank lifted their price target on Snowflake from $285.00 to $320.00 and gave the stock a “sector outperform” rating in a research note on Monday. Wedbush lifted their price target on Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Bank of America lifted 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. Finally, Sanford C. Bernstein lifted their price objective on Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $291.77.

About Snowflake

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.