Linden Advisors LP Purchases New Shares in Snowflake Inc. $SNOW

Linden Advisors LP acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, Holdings Channel reports. The firm acquired 19,700 shares of the company’s stock, valued at approximately $4,408,000.

A number of other large investors have also recently made changes to their positions in the business. Hudson Bay Capital Management LP lifted its holdings in shares of Snowflake by 233.6% in the 2nd quarter. Hudson Bay Capital Management LP now owns 187,000 shares of the company’s stock valued at $41,845,000 after acquiring an additional 327,000 shares during the last quarter. IHT Wealth Management LLC raised its position in Snowflake by 28.1% during the second quarter. IHT Wealth Management LLC now owns 9,729 shares of the company’s stock valued at $2,177,000 after purchasing an additional 2,135 shares during the period. Fortress Investment Group LLC purchased a new stake in Snowflake during the second quarter valued at approximately $2,238,000. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Snowflake by 180.0% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 89,462 shares of the company’s stock valued at $20,019,000 after purchasing an additional 57,516 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in shares of Snowflake in the 2nd quarter worth approximately $21,196,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Down 1.2%

SNOW stock opened at $217.95 on Friday. The company has a market capitalization of $73.84 billion, a PE ratio of -53.95 and a beta of 1.09. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The firm’s 50-day moving average is $250.24 and its 200 day moving average is $227.20. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.48.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Oppenheimer restated an “outperform” rating on shares of Snowflake in a report on Friday, November 21st. Robert W. Baird boosted their price objective on shares of Snowflake from $260.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Monness Crespi & Hardt increased their target price on shares of Snowflake from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Stifel Nicolaus lifted their price target on shares of Snowflake from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Finally, Wedbush reiterated an “outperform” rating and set a $270.00 price target on shares of Snowflake in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $274.78.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 1,993 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $223.31, for a total value of $445,056.83. Following the transaction, the director owned 150,456 shares of the company’s stock, valued at $33,598,329.36. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $230.65, for a total value of $92,951.95. Following the transaction, the director owned 24,524 shares in the company, valued at $5,656,460.60. The trade was a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 221,360 shares of company stock worth $53,391,315. Company insiders own 6.80% of the company’s stock.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.