Snowflake Inc. $SNOW is Scalar Gauge Management LLC’s 8th Largest Position

Scalar Gauge Management LLC increased its position in Snowflake Inc. (NYSE:SNOW) by 105.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,000 shares of the company’s stock after buying an additional 19,000 shares during the quarter. Snowflake accounts for approximately 4.2% of Scalar Gauge Management LLC’s holdings, making the stock its 8th biggest holding. Scalar Gauge Management LLC’s holdings in Snowflake were worth $8,345,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new position in shares of Snowflake in the second quarter valued at about $25,000. Avion Wealth grew its stake in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in Snowflake during the 3rd quarter valued at about $25,000. Tripletail Wealth Management LLC bought a new position in Snowflake during the 3rd quarter valued at approximately $28,000. Finally, Rossby Financial LCC lifted its holdings in Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SNOW shares. Wedbush reissued an “outperform” rating and set a $270.00 target price on shares of Snowflake in a research note on Thursday, December 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Snowflake in a research report on Wednesday, January 21st. Morgan Stanley raised their target price on shares of Snowflake from $272.00 to $299.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Raymond James Financial set a $250.00 price target on shares of Snowflake in a research report on Monday, December 15th. Finally, The Goldman Sachs Group set a $286.00 price objective on Snowflake in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $275.58.

Insider Transactions at Snowflake

In other news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the completion of the transaction, the senior vice president directly owned 218,020 shares in the company, valued at $48,060,328.80. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 200,000 shares of Snowflake stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $206.77, for a total value of $41,354,000.00. Following the completion of the transaction, the director directly owned 50,329 shares of the company’s stock, valued at approximately $10,406,527.33. This represents a 79.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 618,681 shares of company stock valued at $137,427,145. 6.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Shares of NYSE SNOW opened at $211.24 on Tuesday. The company has a 50 day simple moving average of $226.66 and a two-hundred day simple moving average of $228.32. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67. The company has a market capitalization of $72.29 billion, a price-to-earnings ratio of -52.29 and a beta of 1.14. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the business posted $0.20 EPS. The firm’s quarterly revenue was up 28.7% compared to the same quarter last year. Analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal 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.