Mediolanum International Funds Ltd Invests $667,000 in Snowflake Inc. $SNOW

Mediolanum International Funds Ltd purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,343 shares of the company’s stock, valued at approximately $667,000.

Several other institutional investors also recently modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new position in Snowflake in the 4th quarter worth about $28,000. Greenline Wealth Management LLC purchased a new stake in shares of Snowflake during the 4th quarter valued at about $29,000. Physician Wealth Advisors Inc. grew its stake 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 acquiring an additional 51 shares during the period. Emerald Advisers LLC raised its holdings in shares of Snowflake by 95.2% during the first quarter. Emerald Advisers LLC now owns 205 shares of the company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Finally, MV Capital Management Inc. purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Trading Down 1.2%

NYSE:SNOW opened at $270.92 on Wednesday. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. The business has a fifty day moving average price of $232.28 and a 200-day moving average price of $194.18. The firm has a market capitalization of $93.90 billion, a price-to-earnings ratio of -76.97 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.24 earnings per share. Snowflake’s quarterly revenue was up 33.5% compared to the same quarter last year. Sell-side analysts forecast that Snowflake Inc. will post -1.84 EPS for the current year.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $141.60, for a total transaction of $7,127,860.80. Following the transaction, the director directly owned 28,556 shares of the company’s stock, valued at $4,043,529.60. The trade was a 63.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were 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 of the company’s stock, valued at approximately $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,802,015 shares of company stock valued at $421,739,629 over the last quarter. 4.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Snowflake from $272.00 to $285.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Snowflake from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Royal Bank Of Canada raised their price target on Snowflake from $284.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Sanford C. Bernstein lifted their price objective on Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, May 28th. Finally, Stifel Nicolaus upped their price objective on Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Thirty-four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $296.27.

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.