Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Invests $5.88 Million in Snowflake Inc. $SNOW

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,000 shares of the company’s stock, valued at approximately $5,882,000. Snowflake accounts for 2.2% of Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s portfolio, making the stock its 18th biggest holding.

Several other hedge funds have also made changes to their positions in SNOW. Kemnay Advisory Services Inc. purchased a new position in Snowflake during the 4th quarter worth approximately $28,000. Greenline Wealth Management LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at $29,000. GoalVest Advisory LLC lifted its holdings in shares of Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after purchasing an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. boosted its position in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after buying an additional 51 shares during the period. Finally, MV Capital Management Inc. purchased a new position in shares of Snowflake during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SNOW shares. Morgan Stanley upped their price target on Snowflake from $245.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. TD Cowen restated a “buy” rating and set a $300.00 price objective on shares of Snowflake in a research report on Wednesday, June 3rd. Wedbush lifted their target price on Snowflake from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Loop Capital upped their target price on Snowflake from $290.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. upped their target price on Snowflake from $245.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $293.53.

Snowflake Trading Up 2.8%

NYSE SNOW opened at $276.21 on Wednesday. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $284.99. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $95.73 billion, a PE ratio of -78.47 and a beta of 1.35. The firm’s fifty day simple moving average is $220.12 and its 200-day simple moving average is $192.44.

Snowflake (NYSE:SNOW) last announced 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. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.Snowflake’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. As a group, sell-side analysts anticipate that Snowflake Inc. will post -1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, Director Mark Garrett sold 100,000 shares of the company’s stock in a transaction dated 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 directly owned 8,801 shares of the company’s stock, valued at $2,200,250. This represents a 91.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 437,076 shares of Snowflake stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the sale, the director owned 38,046 shares of the company’s stock, valued at approximately $9,603,951.78. This represents a 91.99% 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 have sold a total of 1,802,015 shares of company stock valued at $421,739,629 in the last three months. Insiders own 4.80% of the company’s stock.

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.