Formuepleje A S Purchases 1,712 Shares of Snowflake Inc. $SNOW

Formuepleje A S acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,712 shares of the company’s stock, valued at approximately $581,000.

Other large investors have also recently added to or reduced their stakes in the company. Jericho Capital Asset Management L.P. acquired a new position in shares of Snowflake in the 4th quarter worth approximately $345,619,000. Pictet Asset Management Holding SA grew its holdings in Snowflake by 44.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock worth $392,259,000 after acquiring an additional 803,110 shares during the period. OMERS ADMINISTRATION Corp lifted its stake in shares of Snowflake by 4,284.3% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 696,278 shares of the company’s stock valued at $105,013,000 after purchasing an additional 680,397 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Snowflake by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock valued at $452,014,000 after purchasing an additional 544,960 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Snowflake by 76.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company’s stock worth $176,736,000 after purchasing an additional 509,230 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

SNOW traded down $5.66 during midday trading on Thursday, reaching $329.42. The company had a trading volume of 3,616,309 shares, compared to its average volume of 6,479,760. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $384.56. The business has a 50-day moving average price of $333.37 and a two-hundred day moving average price of $253.25. The stock has a market cap of $116.22 billion, a PE ratio of -103.59 and a beta of 1.35. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. On average, sell-side analysts expect that Snowflake Inc. will post -1.44 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark Garrett sold 50,000 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $350.00, for a total transaction of $17,500,000.00. Following the sale, the director owned 10,074 shares in the company, valued at approximately $3,525,900. This trade represents a 83.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 25,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $325.00, for a total value of $8,125,000.00. Following the completion of the transaction, the executive vice president owned 340,379 shares of the company’s stock, valued at $110,623,175. The trade was a 6.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,246,429 shares of company stock valued at $396,227,952 over the last 90 days. Company insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SNOW shares. Phillip Securities lowered shares of Snowflake from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday. Monness Crespi & Hardt upped their price objective on shares of Snowflake from $380.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Wells Fargo & Company increased their price objective on shares of Snowflake from $500.00 to $525.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Evercore restated an “outperform” rating and issued a $430.00 target price on shares of Snowflake in a research note on Thursday, September 3rd. Finally, TD Cowen boosted their target price on Snowflake from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Thirty-five 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $414.24.

Snowflake Profile

Snowflake Inc (NYSE: SNOW) provides a cloud-based data platform that enables organizations to store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and artificial intelligence workloads in a single environment.

Snowflake’s services include cloud data storage and computing, data sharing and collaboration tools, governance and security capabilities, and access to third-party data through the Snowflake Marketplace.