Snowflake Inc. $SNOW Shares Purchased by Themes Management Co LLC

Themes Management Co LLC boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 171.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,715 shares of the company’s stock after purchasing an additional 4,878 shares during the quarter. Themes Management Co LLC’s holdings in Snowflake were worth $1,164,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Snowflake during the fourth quarter worth about $974,091,000. Jennison Associates LLC lifted its stake in Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after acquiring an additional 2,519,413 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new position in Snowflake in the fourth quarter worth approximately $345,619,000. Vanguard Group Inc. grew its holdings in Snowflake by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock worth $6,601,790,000 after acquiring an additional 1,448,094 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Snowflake by 445.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,490,569 shares of the company’s stock worth $326,971,000 after acquiring an additional 1,217,350 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Up 1.1%

Shares of Snowflake stock opened at $268.15 on Friday. The company has a fifty day simple moving average of $239.11 and a 200-day simple moving average of $195.38. Snowflake Inc. has a 12-month low of $118.30 and a 12-month 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 stock has a market cap of $92.94 billion, a price-to-earnings ratio of -76.18 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted $0.24 EPS. The company’s revenue was up 33.5% on a year-over-year basis. On average, equities analysts forecast that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Mark Garrett sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $250.00, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 437,076 shares of Snowflake stock in a transaction dated Friday, May 29th. The stock was 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 in the company, valued at $9,603,951.78. This trade represents a 91.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,802,015 shares of company stock worth $421,739,629 over the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Monness Crespi & Hardt raised their price objective on shares of Snowflake from $282.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Stifel Nicolaus boosted their target price on shares of Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Oppenheimer raised their price target on Snowflake from $250.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Weiss Ratings downgraded Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Finally, Cantor Fitzgerald upped 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. Thirty-four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $296.27.

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.