Unisphere Establishment Invests $3.71 Million in Snowflake Inc. $SNOW

Unisphere Establishment acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 24,600 shares of the company’s stock, valued at approximately $3,710,000.

Other large investors also recently modified their holdings of the company. Gamco Investors INC. ET AL grew its position in Snowflake by 16.1% during the first quarter. Gamco Investors INC. ET AL now owns 2,327 shares of the company’s stock valued at $351,000 after acquiring an additional 322 shares during the last quarter. Pennington Partners & CO. LLC purchased a new position in shares of Snowflake during the first quarter worth approximately $272,000. GC Wealth Management RIA LLC lifted its holdings in shares of Snowflake by 0.7% in the 1st quarter. GC Wealth Management RIA LLC now owns 25,777 shares of the company’s stock worth $3,888,000 after acquiring an additional 179 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Snowflake by 0.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 131,968 shares of the company’s stock worth $19,903,000 after acquiring an additional 761 shares during the last quarter. Finally, Compound Planning Inc. boosted its stake in shares of Snowflake by 4.1% in the 1st quarter. Compound Planning Inc. now owns 3,255 shares of the company’s stock valued at $491,000 after purchasing an additional 127 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNOW shares. DA Davidson increased their target price on shares of Snowflake from $250.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Wells Fargo & Company boosted their price target on shares of Snowflake from $210.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. UBS Group restated a “buy” rating on shares of Snowflake in a research report on Monday, June 22nd. Rosenblatt Securities raised their price objective on Snowflake from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Truist Financial raised their price objective on Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Thirty-four 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $296.27.

Insider Activity

In other news, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $141.60, for a total transaction of $7,127,860.80. Following the completion of the sale, the director directly owned 28,556 shares in the company, valued at approximately $4,043,529.60. This represents a 63.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the completion of the sale, the director directly owned 8,801 shares in the company, valued at $2,200,250. The trade was a 91.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,802,015 shares of company stock valued at $421,739,629. Insiders own 4.80% of the company’s stock.

Snowflake Trading Up 1.1%

NYSE:SNOW opened at $268.15 on Friday. The company has a fifty day moving average of $239.11 and a 200 day moving average of $195.38. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $92.94 billion, a P/E ratio of -76.18 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its quarterly 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. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 EPS. On average, research analysts predict that Snowflake Inc. will post -1.84 earnings per share for the current 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.