Snowflake Inc. $SNOW Shares Newly Purchased by Jackson Square Capital LLC

Jackson Square Capital LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,240 shares of the company’s stock, valued at approximately $1,440,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BDF Gestion acquired a new position in Snowflake during the 3rd quarter worth approximately $1,757,000. Generali Investments Management Co LLC increased its position in shares of Snowflake by 172.9% in the 3rd quarter. Generali Investments Management Co LLC now owns 3,652 shares of the company’s stock valued at $1,240,000 after purchasing an additional 2,314 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in shares of Snowflake by 5.6% in the 3rd quarter. SteelPeak Wealth LLC now owns 3,273 shares of the company’s stock valued at $1,111,000 after purchasing an additional 175 shares in the last quarter. CRA Financial Services LLC acquired a new stake in shares of Snowflake in the 3rd quarter valued at $191,000. Finally, Frank Rimerman Advisors LLC lifted its position in shares of Snowflake by 2.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 2,935 shares of the company’s stock worth $997,000 after purchasing an additional 80 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Up 3.1%

SNOW stock traded up $9.66 during midday trading on Monday, reaching $316.50. 2,868,214 shares of the company were exchanged, compared to its average volume of 6,484,383. The company has a market cap of $111.66 billion, a price-to-earnings ratio of -99.72 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 Inc. has a 1-year low of $118.30 and a 1-year high of $384.56. The stock’s 50-day simple moving average is $333.25 and its 200 day simple moving average is $255.61.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, equities analysts forecast that Snowflake Inc. will post -1.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SNOW shares. JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $285.00 to $426.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. TD Cowen raised their price target on Snowflake from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. DA Davidson raised their price target on Snowflake from $300.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Barclays lifted their price target on Snowflake from $332.00 to $384.00 and gave the stock an “equal weight” rating in a report on Thursday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Snowflake in a research report on Thursday, September 3rd. Thirty-six investment 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $413.87.

Insider Transactions at Snowflake

In other news, Director Mark Garrett sold 50,000 shares of Snowflake stock in a transaction dated Friday, September 4th. The stock was 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. The trade was a 83.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 251,010 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $325.53, for a total value of $81,711,285.30. Following the completion of the sale, the director directly owned 28,535 shares of the company’s stock, valued at $9,288,998.55. The trade was a 89.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 956,744 shares of company stock worth $316,741,285. 4.80% of the stock is owned by company insiders.

Snowflake Company Profile

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.