Snowflake Inc. $SNOW Shares Purchased by Maytus Capital Management LLC

Maytus Capital Management LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 30.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,000 shares of the company’s stock after acquiring an additional 9,808 shares during the period. Snowflake comprises 2.2% of Maytus Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Maytus Capital Management LLC’s holdings in Snowflake were worth $9,213,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SNOW. Brighton Jones LLC increased its holdings in Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the period. Intech Investment Management LLC increased its holdings in Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after purchasing an additional 2,167 shares during the period. Geneos Wealth Management Inc. increased its holdings in Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after purchasing an additional 73 shares during the period. Flow Traders U.S. LLC purchased a new stake in Snowflake during the 2nd quarter worth about $221,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Snowflake by 7.2% during 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 during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 50,338 shares of the firm’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 $4,356,781.16. This trade represents a 63.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the transaction, the director owned 8,801 shares in the company, valued at $2,200,250. This represents a 91.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,489,989 shares of company stock worth $341,929,050 in the last quarter. 4.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SNOW shares. Monness Crespi & Hardt upped their price target on Snowflake from $282.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Zacks Research upgraded Snowflake from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Morgan Stanley upped their price target on Snowflake from $245.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Wells Fargo & Company upped their price target on Snowflake from $210.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, UBS Group set a $320.00 price objective on Snowflake in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $291.77.

Snowflake Trading Down 0.7%

NYSE:SNOW opened at $239.11 on Wednesday. The stock’s 50 day moving average price is $177.16 and its 200 day moving average price is $189.71. The company has a market capitalization of $82.87 billion, a PE ratio of -67.93 and a beta of 1.35. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99.

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

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.