Scge Management L.P. Has $174.83 Million Position in Snowflake Inc. $SNOW

Scge Management L.P. lessened its stake in Snowflake Inc. (NYSE:SNOW) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 797,000 shares of the company’s stock after selling 96,000 shares during the period. Snowflake comprises 4.0% of Scge Management L.P.’s portfolio, making the stock its 11th biggest holding. Scge Management L.P.’s holdings in Snowflake were worth $174,830,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Sargent Investment Group LLC bought a new position in Snowflake during the fourth quarter valued at about $1,067,000. Mariner LLC raised its holdings in Snowflake by 7.9% in the 4th quarter. Mariner LLC now owns 222,998 shares of the company’s stock valued at $48,934,000 after acquiring an additional 16,398 shares in the last quarter. Nicolet Advisory Services LLC lifted its position in shares of Snowflake by 29.3% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,381 shares of the company’s stock worth $304,000 after acquiring an additional 313 shares during the period. Focus Partners Wealth lifted its position in shares of Snowflake by 102.6% in the 4th quarter. Focus Partners Wealth now owns 153,708 shares of the company’s stock worth $33,725,000 after acquiring an additional 77,835 shares during the period. Finally, Glen Eagle Advisors LLC grew its holdings in shares of Snowflake by 49.3% during the 4th quarter. Glen Eagle Advisors LLC now owns 209 shares of the company’s stock worth $46,000 after purchasing an additional 69 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $232.38 on Monday. The business’s fifty day moving average price is $173.64 and its two-hundred day moving average price is $189.84. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The stock has a market capitalization of $80.54 billion, a price-to-earnings ratio of -66.02 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, analysts predict that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $245.21, for a total transaction of $98,819.63. Following the completion of the transaction, the director directly owned 22,106 shares of the company’s stock, valued at $5,420,612.26. This trade represents a 1.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the transaction, the director owned 8,801 shares in the company, valued at approximately $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,589,550 shares of company stock worth $359,438,410. Company insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the topic of a number of research reports. Piper Sandler boosted their price objective on Snowflake from $295.00 to $320.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Oppenheimer raised their target price on Snowflake from $250.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a report on Wednesday, February 18th. Barclays increased their price objective on shares of Snowflake from $272.00 to $285.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Finally, TD Cowen reaffirmed a “buy” rating and set a $300.00 price objective on shares of Snowflake in a report on Wednesday, June 3rd. One investment 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $291.77.

Snowflake Company 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.