9,715 Shares in Snowflake Inc. $SNOW Purchased by Highland Capital Management LLC

Highland Capital Management LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,715 shares of the company’s stock, valued at approximately $2,191,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SNOW. AMI Asset Management Corp purchased a new stake in shares of Snowflake in the 3rd quarter worth approximately $16,458,000. HBK Sorce Advisory LLC bought a new stake in Snowflake in the third quarter worth $299,000. Blue Trust Inc. grew its stake in shares of Snowflake by 24.0% in the third quarter. Blue Trust Inc. now owns 4,375 shares of the company’s stock worth $987,000 after acquiring an additional 846 shares during the last quarter. Avanza Fonder AB grew its stake in shares of Snowflake by 27.1% in the third quarter. Avanza Fonder AB now owns 26,102 shares of the company’s stock worth $5,887,000 after acquiring an additional 5,568 shares during the last quarter. Finally, Wallace Advisory Group LLC bought a new position in shares of Snowflake during the third quarter valued at $203,000. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of several recent analyst reports. JMP Securities lifted their target price on shares of Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Macquarie increased their price target on shares of Snowflake from $235.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Royal Bank Of Canada reissued an “outperform” rating on shares of Snowflake in a research report on Thursday, December 4th. Canaccord Genuity Group upped their price objective on Snowflake from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Finally, Mizuho increased their target price on Snowflake from $260.00 to $285.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $275.32.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 200,000 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $221.83, for a total transaction of $44,366,000.00. Following the completion of the sale, the director owned 50,329 shares of the company’s stock, valued at $11,164,482.07. This represents a 79.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the completion of the transaction, the executive vice president directly owned 512,450 shares in the company, valued at approximately $127,871,648.50. The trade was a 1.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 423,681 shares of company stock worth $98,164,051 in the last ninety days. Insiders own 6.80% of the company’s stock.

Snowflake Trading Up 0.9%

Shares of SNOW stock opened at $223.99 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The stock has a market capitalization of $76.65 billion, a P/E ratio of -55.44 and a beta of 1.09. The firm’s 50 day moving average is $245.91 and its 200 day moving average is $228.15.

Snowflake (NYSE:SNOW) last released its quarterly 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. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The company’s revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. Research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.