Snowflake Inc. $SNOW Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 52.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,111 shares of the company’s stock after purchasing an additional 5,909 shares during the period. Intech Investment Management LLC’s holdings in Snowflake were worth $3,829,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after buying an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snowflake during the second quarter worth about $3,900,134,000. Jennison Associates LLC lifted its stake in shares of Snowflake by 20.5% in the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after acquiring an additional 1,363,389 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after acquiring an additional 763,673 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Snowflake by 3.1% in the second quarter. Geode Capital Management LLC now owns 4,424,120 shares of the company’s stock valued at $986,057,000 after purchasing an additional 133,059 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the completion of the transaction, the executive vice president owned 522,450 shares of the company’s stock, valued at approximately $145,100,038.50. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $257.29, for a total transaction of $103,687.87. Following the transaction, the director owned 24,927 shares of the company’s stock, valued at $6,413,467.83. This represents a 1.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 931,388 shares of company stock worth $216,578,628. 6.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wedbush increased their target price on Snowflake from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. UBS Group raised their price objective on shares of Snowflake from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Macquarie increased their price target on shares of Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Finally, Citigroup reiterated a “market outperform” rating on shares of Snowflake in a research note on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $262.39.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $254.58 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm’s 50-day moving average price is $245.17 and its two-hundred day moving average price is $220.49. Snowflake Inc. has a 52-week low of $120.10 and a 52-week high of $280.67. The stock has a market capitalization of $86.25 billion, a P/E ratio of -61.35 and a beta of 1.23.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the firm earned $0.18 EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.