Gladstone Capital Management LLP Acquires 162,054 Shares of Snowflake Inc. $SNOW

Gladstone Capital Management LLP raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 2,332.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 169,002 shares of the company’s stock after purchasing an additional 162,054 shares during the quarter. Snowflake comprises about 3.9% of Gladstone Capital Management LLP’s holdings, making the stock its 10th biggest position. Gladstone Capital Management LLP’s holdings in Snowflake were worth $37,072,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Brighton Jones LLC lifted its stake in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares in the last quarter. Intech Investment Management LLC grew its stake in Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after acquiring an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after acquiring an additional 73 shares during the last quarter. Flow Traders U.S. LLC purchased a new position in Snowflake in the 2nd quarter worth approximately $221,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Snowflake by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock worth $5,055,000 after purchasing an additional 1,521 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake 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 sale, the director directly owned 22,106 shares in the company, valued at $5,420,612.26. This trade represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 162,924 shares of Snowflake stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $263.70, for a total transaction of $42,963,058.80. Following the sale, the director owned 38,046 shares of the company’s stock, valued at approximately $10,032,730.20. This represents a 81.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,489,989 shares of company stock valued at $341,929,050 over the last 90 days. Company insiders own 4.80% of the company’s stock.

Snowflake Trading Down 0.7%

SNOW opened at $239.11 on Wednesday. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. The stock has a market capitalization of $82.87 billion, a PE ratio of -67.93 and a beta of 1.35. The business’s 50 day moving average price is $177.16 and its 200 day moving average price is $189.71. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05.

Snowflake (NYSE:SNOW) last posted its earnings results 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 company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. As a group, equities research analysts expect that Snowflake Inc. will post -1.87 EPS for the current year.

Analysts Set New Price Targets

SNOW has been the subject of a number of analyst reports. BTIG Research upped their price target on Snowflake from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Cantor Fitzgerald lifted their price objective on Snowflake from $225.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Evercore set a $200.00 price objective on Snowflake in a research note on Tuesday, April 14th. Weiss Ratings downgraded Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, KeyCorp set a $295.00 price target on Snowflake in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock 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.