Hussman Strategic Advisors Inc. Purchases New Shares in Snowflake Inc. $SNOW

Hussman Strategic Advisors Inc. purchased a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 8,400 shares of the company’s stock, valued at approximately $1,843,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SNOW. Total Clarity Wealth Management Inc. increased its position in Snowflake by 2.7% during the third quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company’s stock valued at $340,000 after acquiring an additional 40 shares during the last quarter. Diligent Investors LLC raised its stake in shares of Snowflake by 0.9% in the third quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock valued at $1,036,000 after acquiring an additional 40 shares during the period. CX Institutional lifted its holdings in shares of Snowflake by 13.2% in the 3rd quarter. CX Institutional now owns 421 shares of the company’s stock worth $95,000 after acquiring an additional 49 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of Snowflake by 44.1% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock worth $36,000 after acquiring an additional 49 shares during the last quarter. Finally, Wolff Wiese Magana LLC boosted its stake in shares of Snowflake by 10.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 549 shares of the company’s stock worth $120,000 after purchasing an additional 50 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 3,876 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $152.80, for a total value of $592,252.80. Following the completion of the sale, the senior vice president directly owned 273,323 shares in the company, valued at approximately $41,763,754.40. This represents a 1.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $176.91, for a total value of $17,691,000.00. Following the transaction, the director directly owned 50,329 shares in the company, valued at $8,903,703.39. The trade was a 66.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 394,313 shares of company stock worth $67,477,780 in the last ninety days. 6.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on SNOW. The Goldman Sachs Group cut their price target on shares of Snowflake from $286.00 to $246.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. DA Davidson decreased their price objective on shares of Snowflake from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Morgan Stanley dropped their target price on Snowflake from $270.00 to $245.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. UBS Group cut their target price on Snowflake from $235.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Finally, Citigroup reduced their price target on Snowflake from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.19.

Snowflake Price Performance

Snowflake stock opened at $141.28 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market cap of $48.84 billion, a price-to-earnings ratio of -35.77 and a beta of 1.08. The firm has a 50-day moving average of $158.11 and a two-hundred day moving average of $202.73. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $280.67.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, research analysts forecast that Snowflake Inc. will post -2.16 earnings per share for the current year.

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.