Fjarde AP Fonden Fourth Swedish National Pension Fund Has $15.24 Million Stock Position in Snowflake Inc. $SNOW

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Snowflake Inc. (NYSE:SNOW) by 13.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,100 shares of the company’s stock after buying an additional 7,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Snowflake were worth $15,239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Advantage Inc. grew its stake in Snowflake by 1.1% in the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after acquiring an additional 48 shares during the period. Avion Wealth grew its position in shares of Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares during the period. Ignite Planners LLC grew its position in shares of Snowflake by 2.3% in the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock valued at $418,000 after purchasing an additional 64 shares during the period. Koshinski Asset Management Inc. grew its position in shares of Snowflake by 4.2% in the 2nd quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock valued at $359,000 after purchasing an additional 64 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in Snowflake by 8.9% in the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock valued at $122,000 after buying an additional 68 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of research reports. Bank of America raised shares of Snowflake from a “neutral” rating to a “buy” rating and lifted their price target for the company from $220.00 to $240.00 in a research note on Wednesday, August 20th. UBS Group boosted their price objective on shares of Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. Piper Sandler boosted their price target on Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Monness Crespi & Hardt boosted their price target on Snowflake from $245.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $258.95.

Snowflake Trading Up 0.5%

Snowflake stock opened at $267.31 on Wednesday. The firm has a 50-day moving average of $230.64 and a 200-day moving average of $208.03. Snowflake Inc. has a one year low of $113.23 and a one year high of $270.94. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $90.56 billion, a price-to-earnings ratio of -64.41 and a beta of 1.21.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $0.18 EPS. The company’s quarterly revenue was up 31.8% on a year-over-year basis. On average, equities analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 710,083 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the sale, the director directly owned 165,507 shares of the company’s stock, valued at approximately $38,144,398.29. The trade was a 81.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,182,434 shares of company stock valued at $270,280,661. 6.80% of the stock is currently owned by company insiders.

Snowflake Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.